This radar sensor business was a "carve-out" of the Radio Frequency and Subsystems business unit within Tyco Electronics. Considered one of the market-leading suppliers of automotive radar sensors in the world, the business designs and manufactures active radar proximity and attribute sensor systems used in vehicle driver assist and safety applications for the global automotive market -- and is Daimler's development partner for automotive radar sensor technology.
The technology and intellectual property included in the transaction includes short-, medium- and long-range radar products. Automotive safety system applications for this technology include blind spot and collision warning, lane change assist, adaptive cruise control An automotive cruise control system that automatically slows down the car if it is moving too close to the vehicle in front of it. A radar or laser unit located behind the grille determines the speed and distance of the vehicle in front. , collision mitigation by braking and side pre-crash sensing, along with back-up and park assist functions. The technology can also be used to trigger other vehicle safety features such as active bumpers, structures, knee bolsters and active seatbelts.
This business includes approximately 115 highly specialized technical, commercial and manufacturing employees who will support the activities required to intensify Autoliv's efforts in the growing automotive active safety market.
This acquisition enables Autoliv to leverage existing customer relationships and safety system capability to increase its strong market position in automotive safety electronics and immediately become one of the largest suppliers of automotive radar products in the world. Existing customers, along with Daimler, include BMW BMW
in full Bayerische Motoren Werke AG
German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. and Chrysler along with other non OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers. "This strategic acquisition will undoubtedly be an important ingredient in our intensified efforts to improve small car safety by creating a 'Virtual Crash Zone' around the vehicle" said Mr. Jan Carlson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Autoliv.
It is Autoliv's expectation that this acquisition should not materially impact Autoliv's earnings in 2008 and have an accretive earnings per share effect in 2009.
Headquartered in Stockholm, Autoliv Inc. 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 42,000 employees in 30 vehicle-producing countries. In addition, the company has technical centers in eleven countries around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2007 amounted to US $6.8 billion. The Company's shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE: ALV) and its Swedish Depository Receipts on the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. (SSE (1) An earlier full-screen editor in OS/2.
(2) (Streaming SIMD Extensions) A series of additional instructions built into Pentium CPU chips for improved multimedia performance by performing mathematical operations on multiple sets of data at the : ALIV). For more information about Autoliv, please visit our company website at www.autoliv.com.
Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, undersea telecommunication systems and wireless systems, with 2007 sales of $13.0 billion to customers in more than 150 countries. The company designs, manufactures and markets products for customers in industries from automotive, appliance and aerospace and defense to telecommunications, computers and consumer electronics. With over 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is its customers' advantage. More information on Tyco Electronics can be found at www.tycoelectronics.com.
Safe Harbour Statement
Statements in this presentation that are not statements of historical facts may be forward-looking statements, within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and . These statements involve risks and uncertainties, including - but not limited to - the economic outlook for the Company's markets, fluctuation of foreign currencies, fluctuation in vehicle production schedules for which the Company is a supplier, continued uncertainty in program awards and performance, the financial results of companies in which Autoliv has made technology investments, pricing negotiations with customers, fluctuating fuel and commodity prices and other costs, supply issues, product liability, warranty and recall claims, dependence on customers and suppliers, and other factors discussed in Autoliv's filings with the Securities and Exchange Commission (SEC). We do not intend or assume any obligation to update any of these statements.
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