Delphi , the US auto parts giant, recently announced that it will sell its North American airbag, seat belt and steering wheel business to Autolif.
However, Delphi did not disclose specific transaction details, nor did it specify which North American facility will be sold. At the same time, Delphi did not explicitly reply whether the sale was related to 2010 GM, Hyundai and Ford's total value of $125 million in orders.
According to Autoliv, the deal will be completed by the end of the year, and Autoliav will integrate the acquired plants in the coming months.
"Ottolev's president and CEO Jan Carlson said:" " Ottolev valued this opportunity, which is beneficial to the vertical integration of the steering wheel business of Autoliv North America. As an important supplier of airbags and seat belts for automakers, Autoliv passed." The acquisition will better provide customers with quality services."
Autoliv is the world's largest supplier of airbags and seat belts.