Automotive
safety systems maker Autoliv has made another move towards concentrating on core
manufacturing by selling its machined parts business in Ogden, Utah. The operation
manufactures steel components for airbag inflators.
This follows the sale and closure over the last two years of eight other non-core
units with a total of more than 1,300 employees. In addition to reducing operating
costs, these transactions and the sales of two properties have released $US60
million tied up in assets. However, the latest sale will not have a material
effect on Autoliv’s earnings.
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The machined parts business had annual sales of approximately $US11 million
and 60 employees and the assets have been sold to several companies.
“This is not strategic to Autoliv’s long-term business plan,” said Autoliv
president and CEO Lars Westerberg.
“By outsourcing these parts we should be able to reduce our cost for components”.
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