Autoliv Acquires Textile Assets from Milliken

Autoliv Inc. (NYSE: ALV) today announced that it has acquired the airbag cushion cut&sewn assets and intellectual property from Milliken.

Under the terms of the acquisition, Autoliv is acquiring the machinery and equipment, essentially laser cutters and sewing machines, and intellectual property to increase Autoliv's capability and flexibility to produce cut&sewn airbag cushions. These assets produce around 7 million airbag cushions annually and account for approximately 7% of the global textile cushion demand for Autoliv airbag systems.