STOCKHOLM, Sweden , March 5, 2019 /PRNewswire/ -- Autoliv, Inc. (ALV) and (SSE:ALIVsdb), the worldwide leader in automotive safety systems, announced today that the European Commission has completed the previously communicated investigation regarding suppliers of occupant safety systems.
The EU Commission has completed the investigation, which has been ongoing since June 2011, of anti-competitive behavior among suppliers of occupant safety systems in the European Union and has decided to impose a fine of € 179 M for Autoliv ($ 203 M). The fine will be payable within 90 days.
The fine is less than the accrual of $ 210 M made by Autoliv in the fourth quarter of 2018. The difference between the actual fine and the accrual will be reported in Other income (expense), net, in Autoliv's first quarter 2019 report.
Corporate Communications: Stina Thorman, Tel +46 (0)8 587 206 50
Investors & Analysts: Anders Trapp, Investor Relations, Tel +46 (0)8 587 206 71
Investors & Analysts: Henrik Kaar, Investor Relations, Tel +46 (0)8 587 206 14
This information is information that Autoliv, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 12.20 pm CET on March 5, 2019.
Autoliv, Inc. is the worldwide leader in automotive safety systems, and through its subsidiaries develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has close to 67,000 employees in 27 countries. In addition, the Company has 14 technical centers around the world, with 19 test tracks. The Company's shares are listed on the New York Stock Exchange (ALV) and its Swedish Depository Receipts on Nasdaq Stockholm (ALIVsdb). For more information about Autoliv, please visit our company website at www.autoliv.com.
Safe Harbor Statement
This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including any additional civil disputes with non-governmental third parties or any civil or stockholder litigation stemming from the same facts and circumstances underlying the EC investigation. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.
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