Autoliv to close 2 U.S. plants to cut costs

Newswire

STOCKHOLM, Nov 22 (Reuters) - Swedish car safety equipment maker Autoliv said on Friday it would close two plants in the United States to save $5 million in 2003 and $20 million annually starting in 2004. The company, suffering from the slowdown in the car industry as a result of a weaker global economy, said the savings programme will cost a total of $15 million. "Most of the cost will be offset by a combination of unrelated one-time revenues and release of previously established ...

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