Autoliv acquires 51% stake in BDS
Operations expected to generate $30m annualized sales.
Autoliv, a provider of automotive safety systems, has acquired Delphi's 51% share in the Chinese seatbelt maker Beijing Delphi Automotive Safety Products (BDS), a joint venture between Delphi and the Chinese company BHAP started in 2008.
BDS main customers include Dongfeng Yueda Kia Motor (DYKMC) and Beijing Hyundai Motor (BHMC).
The operations are expected to generate approximately $30m of annualized sales in 2010 and employ approximately 240 people.
Recently, Autoliv opened a new airbag cushion facility and technical center with the capacity to perform full crash tests of complete vehicles and it has ten manufacturing facilities in China, including the latest acquisition.
Autoliv president and CEO Jan Carlson said this investment strengthens Autoliv's competitive edge and commitment to the Chinese automotive industry.