The leading global vehicle safety system provider Autoliv, Inc is taking measures to minimize any consequences for customers and mitigate the impact on the Company. The company draws $500 million from its revolving credit facility to pay down existing short-term debt and for general corporate purposes.
The COVID-19 outbreak is now impacting customers in Europe
The company announced closures of plant in France, Italy, Spain and Germany.
Since early February, Autoliv has been taking decisive actions at both the group and local levels to mitigate the impacts of the COVID-19 outbreak, firstly to ensure the health and wellbeing of our employees but also to establish the right balance of capacity and cost.
In November 2019, Autoliv announced the development of a new front center airbag that is designed to save lives in side-impact crash situations. The airbag will be showcased at Autoliv’s Capital Markets Day held on November 19 at its technical center in Ogden, Utah.
Autoliv, headquartered in Stockholm, Sweden, is a global leader in automotive safety systems, and through its subsidiaries develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Autoliv together with joint ventures has more than 66,000 employees in 27 countries. In addition, the Company has 14 technical centers and 19 test tracks around the world.