Autoliv has closed the acquisition – as agreed in January – of Delphi’s Occupant Protection Systems (OPS) operations in Korea and China. Autoliv says that these operations are expected to contribute approximately USD220m to Autoliv sales in 2010.
This transaction includes intellectual property, physical assets and a workforce of approximately 600 associates in Korea and China. Existing customers include Hyundai, Kia, Daewoo (GM), Chery and Tata.
In 2009, Autoliv acquired assets relating to Delphi’s OPS operations in Europe and North America which are expected to add approximately USD150m to Autoliv’s sales during 2010.
“This is an important acquisition for Autoliv – giving us immediate sales growth and bringing us closer to key customers in an important region,” said Jan Carlson, President and CEO of Autoliv.
The Asian transaction closed as expected on March 31, 2010 and will be reflected in Autoliv’s revised full year and quarterly guidance on April 27, 2010.