Autoliv Inc., the worldwide leader in automotive safety, has agreed to acquire substantially all of Delphi’s Occupant Protection Systems (OPS) operations in Korea and China. These operations are expected to generate approximately US$250 million of annualized sales in 2010.
Under the terms of the Asian agreement announced on January 28, Autoliv will acquire substantially all of Delphi OPS operations in Korea and China. The transaction includes intellectual property, physical assets and a highly skilled workforce of approximately 600 associates in Korea and China. Existing customers include HKMC (Hyundai, Kia) Chery and Tata.
In the fourth quarter 2009, Autoliv separately acquired assets related to Delphi’s OPS operations in Europe and North America. These transactions are expected to add approximately US$150 million to Autoliv sales during 2010.
“We are very satisfied to have now finalized agreements to acquire virtually all of Delphi OPS operations worldwide,” stated Jan Carlson, president and CEO of Autoliv. “This most recent agreement further improves our already strong market position in Korea and China and reinforces our growth strategy for Asia.”
The Asian transaction is expected to close by March 31, 2010, subject to regulatory approvals and customary closing conditions.
About Autoliv
Autoliv Inc., the worldwide leader in automotive safety systems, develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has 80 facilities with approximately 34,000 employees in 28 vehicle-producing countries. In addition, the company has technical centers in eleven countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2008 amounted to US $6.5 billion.
About Delphi
Delphi is a leading global supplier of electronics and technologies for autos, commercial and other vehicles. Delphi has more than 100,000 employees at 270 locations and 24 engineering centers in 32 countries.