Business of 39m euros for Autoliv

The producer of seat belts and gas generators for airbags Autoliv Romania estimates it will post a turnover worth 30 million euros in 2006, a two-fold increase against the 12.8 million euros reported last year. The company witnessed net losses worth 4.59 million RON (1.26 million euros) last year, but Autoliv says it will become profitable in 2006. “Last year”s losses were caused by the expenses we had when we prepared the production process for some of the new facilities. We hired the personnel long before production started and the machines needed an adjustment period in which raw material was used, but which did not result in usable products,” stated the company”s general manager, Ionel Fierbinteanu. He specified that Autoliv Romania had last year conducted investments of over 30 million euros, the funds being allocated to the building of halls for the production of seat belts and airbag gas generators, which required a total surface area of 20,000 square metres. ZF