Autoliv Starts Engineering Center in Low-Cost Country for Electronics
Posted on: Tuesday, 11 July 2006, 06:00 CDT
Autoliv Inc. (NYSE:ALV)(STO:ALIV) - the worldwide leader in automotive safety systems - has opened an engineering center in Romania that will do electronics development for European clients.
After opening its first electronics plant and tech center in Shangai a few weeks ago to serve the Asian market, Autoliv is pursuing investments in low cost countries for its electronics activities. A new engineering center is now established in Timisoara to serve the European market.
The new Romanian center will eventually employ over 100 persons - mainly software engineers - and will initially focus on design of safety electronics, mostly embedded software development and validation.
To reduce cost, Autoliv began, in 1999, to move production to low-cost countries. As a result, the company currently has 45% of its headcount in these countries compared to less than 10% when this program started.
"In 2004, we decided to supplement this program with a plan aimed at increasing component sourcing in low-cost countries to 50% before the end of this decade, from less than 15%. Moving engineering resources therefore represents the third leg in our low-cost country strategy," said Autoliv's President and CEO Lars Westerberg.
"During the last several years that we have been expanding in low-cost countries, we have been impressed by the people in these countries; their skills, educational level and commitments. For this reason we are now taking advantage of these resources and will develop engineering jobs in addition to manufacturing in these low-cost countries. This reinforces our commitment to cost reductions and meeting our customers requirements in the very competitive automotive industry."
Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures Autoliv has 80 facilities with nearly 39,000 employees in 30 vehicle-producing countries. In addition, the company has development and engineering centers in six countries around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2005 amounted to US $6.2 billion. The Company's shares are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on the OM Stockholm Stock Ex-change (STO: ALIV).
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Source: Business Wire
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