STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Autoliv, Inc. (STO:ALIVSDB) (NYSE:ALV), the worldwide leader in automotive safety, reports that the company has delivered over half a billion airbags for side protection since the company invented these safety devices in 1994.
Side airbags were first introduced to the automotive market when Autoliv, in cooperation with Volvo launched the world’s first side-impact airbag on the Volvo 850. This airbag was designed to reduce injuries and fatalities to the occupant’s chest in side-impact collisions. Subsequently, in 1998, Autoliv introduced another “World’s First”. This was the Inflatable Curtain, which is an airbag that covers the whole upper side of a vehicle in a side-impact collision to protect the head of occupants sitting on the struck side of the vehicle. This patented airbag was launched in cooperation with Volvo and Mercedes.
“These products continue to provide a very important benefit to society and human life” commented Jan Olsson, Vice President of Autoliv Research. “We estimate that our side airbags in the field will save at least 15,000 lives over the years while in service. In addition, we believe there is significant savings to society in medical and rehabilitation costs related to fewer injuries due to our side airbags” added Mr. Olsson.
“Our company’s primary focus is to save more lives”, stated Jan Carlson CEO of Autoliv while presenting his keynote address during a recent employee management conference. “It gives us a real sense of pride and accomplishment when we hear from people who have survived automobile crashes because of the products our dedicated employees design and produce every day”.
Side airbags (both chest side airbags and head curtain side airbags) will become mandatory on all new light vehicles sold as of September next year according to federal law. Despite this improvement, only 50% of the passenger light vehicles produced in the world are currently equipped with side airbags.
Read more about airbags here (http://www.autoliv.com/ProductsAndInnovations/PassiveSafetySystems/Pages/Airbags/default.aspx).
Autoliv, Inc., the worldwide leader in automotive safety systems, develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has more than 80 facilities with more than 50,000 employees in 29 countries. In addition, the Company has ten technical centers in nine countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2011 grew by 15% to US $8.2 billion. The Company's shares are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on the OMX Nordic Exchange in Stockholm (ALIV sdb). For more information about Autoliv, please visit our company website at www.autoliv.com.
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