INTERVIEW: Autoliv To Emerge Stronger Through Crisis - CEO
Autoliv Inc. (ALV), the world's largest seat-belt and airbag
maker, is likely to emerge through the global crisis that is
bruising the auto industry in good shape and with higher market
share, the company's chief executive told Dow Jones Newswires in an
"We think we will emerge stronger through the crisis," Jan
He said the Swedish-American company has "perhaps the industry's
strongest balance sheet right now," partly due to last month's
stock offering that raised $400 million. This should allow Autoliv
to grow organically as well as to acquire more hard-pressed,
smaller companies, he said.
He also said that Autoliv has applied for a EUR240 million loan
from the European Investment Bank. Carlson said the loan, which is
expected to be approved in a few months, would help finance the
company's European-based research and development of safety
products for smaller cars.
Autoliv is likely to lay off more workers, he said. It has laid
off about 10,000 employees since July and now has about 33,600
Carlson expects global car production will recover this year.
Car makers produced an estimated 44 million units in the first
quarter, he said, and the total is expected to rise to 52 million
cars in the second and third quarters, followed by 58 million cars
in the fourth quarter.
"We think the low point was in the first quarter," Carlson
Company Web site: http://www.autoliv.com
-By Ola Kinnander, Dow Jones Newswires; +46-8-5451-3097;