Autoliv Inc to Build Textile Center in China to Support Growth-DJ

Dow Jones reported that Autoliv Inc will invest approximately USD 50 million in a textile center in China. The textile center will consist of a weaving plant, an airbag cushion plant and a development center for airbag cushions and textiles. This plant will have a floor space of more than 8,000 square meters (almost 100,000 sq. feet) and have around 150 employees. The new center is needed to meet the demand for airbags in China and other Asian markets. The center will enable Autoliv to reduce supplier costs through vertical integration.