Autoliv invests 30m euros in plant in Lugoj

Autoliv, a Swedish producer of security systems, which owns a plant in Brasov, will invest 30 million euros in developing a centre for the production of seat belts and airbag components in Lugoj. Autoliv acquired a 12-hectare plot in Lugoj, with a value ranging from 1.2 to 1.4 million euros, according to representatives of the local Town Hall. “We have suggested several locations to Autoliv, and they chose to acquire a 10-12-hectare plot from an individual. The price is likely to have stood at 11-12 euros per square metre, and the total investment amounted to some 30 million euros,” stated Liviu Savescu, spokesman for the Lugoj Town Hall. Autoliv representatives did not wish to provide information on this subject. The company conducted two share capital increases last year, of almost 14 million euros. In 2005, the local subsidiary of the Swedish producer reported losses worth 1.2 million euros, with a turnover standing at 12.9 million euros.