AS NORMA GRUPP

ANNOUNCEMENT

11.10.1999

 

 

AUTOLIV WILL ACQUIRE 49.5% STAKE IN AS NORMA

 

On 08.10.1999 AS Norma Grupp and leading Swedish car safety supplies producer 

Autoliv AB signed the share purchase agreement, pursuant to which Autoliv AB will 

acquire 49.5% stake in AS Norma. 

 

Autoliv AB has announced earlier that AS Norma will continue the listing on the 

stock exchange, and that it has not planned to make an offer to the other 

shareholders of AS Norma.

 

According to Toomas Tamsar, the Management Board chairman of Norma Grupp, Autoliv 

AB's partnership will make the future outlook of Norma more stable, and will 

definitely improve the company's production potential. He also added that this 

transaction provides grounds to increase the volume of AS Norma's western-directed 

exports in addition to existing eastern-directed exports. Tamsar said that changes 

will be made in the Supervisory Board of AS Norma in the near future, and the 

establishment and announcement of the company's strategic goals will be in the 

competence of the new Supervisory Board.

 

Autoliv AB has expressed its intention to bring in part the production car safety 

belts and their components to AS Norma, and also to improve and develop AS Norma's 

production technology.

 

Autoliv AB is a Swedish company, which produces safety belts and car supplies to 

all largest car producers in the world. The company owns stakes in 60 companies in 

28 different countries, and employs more than 21.000 workers. In addition the 

company has 8 technical centers and 19 complex testing tracks, which is more than 

any other safety belt producer.

 

In 1998 Autoliv AB total turnover amounted to 3.5 billion USD and net profit 

188 million USD. The company's shares are listed on stock exchanges in New York, 

Stockholm and Chicago. The main fields of activity of AS Norma are production and 

sale of safety belts and car supplies and subcontracting. The H1 unconsolidated net 

sales of AS Norma totaled 238.8 million EEK and unconsolidated net profit 

65.2 million EEK (in 1998: 228.6 million EEK and 45.0 million EEK, respectively).

 

 

 

Additional information:

Toomas Tamsar

Chairman of the Management Board

AS Norma Grupp