Thu, 28 Oct 1999: Autoliv, Norma sign deal to supply seat belts…



the terms of the transaction are secret.Autoliv has the right to acquire the additional 1.5% of Norma shares before Jan. 1, 2002. Norma shareholders also replaced three members of the five-member supervisory council and two of the five-member board with Autoliv's representatives. Autoliv's vice president, Jorgen Svensson, was chosen chairman of the council and Norma's Peep Siimon as head of the board. The negotiations on the purchase of Norma's shares started in mid summer. Norma, a dominant seat belt supplier to the Russian vehicle industry, has been one of Autoliv's licensees and is currently a component supplier to Autoliv. This transaction enables Norma to increase its volume of exports and to the West and offers Autoliv an opportunity ... Read the rest of this entry »

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