TORAY
Japanese group acquires Swedish automotive airbag cushion producer Alva
 Airbags deployed in the front seat of a car (Photo: Pixabay/Pixel-mixer) |
Conglomerate Toray Industries (Tokyo / Japan; www.toray.com) is purchasing airbag cushions manufacturer Alva Sweden (ASE, Mölndal) from AB Anders Westerlind. The Swedish company’s subsidiaries Alva Confecções (Sintra / Portugal) and Alva Tunisia (Ariana / Tunesia) are part of the transaction, for which no financial details have been disclosed. The deal is subject to regulatory approval.
Toray currently produces polyamide fibres – also used in airbags – in Japan, Mexico and Thailand. The group also has fabric manufacturing sites in China, the Czech Republic, India, Japan, Mexico and Thailand. This means the acquisition of Alva is, for Toray, part of a forward integration strategy – the group wants to benefit more strongly from growth in the airbag market, which is boosted by a worldwide increase in vehicle security requirements.
In 2018, Alva generated sales of around EUR 32m and had 1,030 employees. The company started out producing clothing in 1948. Airbag cushions for the automotive industry were added to its portfolio in 1997, replacing Alva’s clothing business.
Toray currently produces polyamide fibres – also used in airbags – in Japan, Mexico and Thailand. The group also has fabric manufacturing sites in China, the Czech Republic, India, Japan, Mexico and Thailand. This means the acquisition of Alva is, for Toray, part of a forward integration strategy – the group wants to benefit more strongly from growth in the airbag market, which is boosted by a worldwide increase in vehicle security requirements.
In 2018, Alva generated sales of around EUR 32m and had 1,030 employees. The company started out producing clothing in 1948. Airbag cushions for the automotive industry were added to its portfolio in 1997, replacing Alva’s clothing business.
02.09.2019 Plasteurope.com [243321-0]
Published on 02.09.2019
German version of this article...