STOCKHOLM, SWEDEN - Autoliv Inc., a global leader in automotive safety, said it has acquired substantially all of Delphi's Occupant Protection Systems (OPS) operations in Korea and China.
These operations are expected to contribute approximately $220 million to Autoliv sales in 2010, the company said.
This transaction includes intellectual property, physical assets and a workforce of approximately 600 employees in Korea and China. Existing customers include Hyundai, Kia, Daewoo (GM), Chery and Tata, Autoliv said.
In 2009, Autoliv acquired assets relating to Delphi's OPS operations in Europe and North America, which are expected to add approximately $150 million to Autoliv's sales during 2010.
"This is an important acquisition for Autoliv -- giving us immediate sales growth and bringing us closer to key customers in an important region," said Jan Carlson, president and CEO of Autoliv.
The Asian transaction closed March 31.