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March 5, 2019

EC fines Autoliv EUR179m

Autoliv says the European Commission (EC) has completed the previously communicated investigation regarding suppliers of occupant safety systems.

By Rhodri Morgan

Autoliv says the European Commission (EC) has completed the previously communicated investigation regarding suppliers of occupant safety systems.

The EU Commission has completed the investigation, which has been ongoing since June 2011, of anti-competitive behaviour among suppliers of occupant safety systems in the EU and has decided to impose a fine of EUR179m (US$203m) for Autoliv.

The fine will be payable within 90 days.

The fine is less than the accrual of US$210m by Autoliv in the fourth quarter of 2018.

The difference between the actual fine and the accrual will be reported in other income (expense), net, in Autoliv’s first quarter, 2019 report.

Autoliv works in automotive safety systems, and through its subsidiaries, develops and manufactures automotive safety systems for all major automotive manufacturers in the world.

Together with its joint ventures, Autoliv has close to 67,000 employees in 27 countries. In addition, the company has 14 technical centres around the world, with 19 test tracks.

The company’s shares are listed on the New York Stock Exchange and its Swedish Depository Receipts on Nasdaq Stockholm.

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