AS NORMA 

ANNOUNCEMENT

06.07.99

 

NEGOTIATIONS WITH AUTOLIV

 

The representatives of AS Norma Grupp and Autoliv Inc. (leading 

Swedish producer of automobile safety supplies) signed a memorandum 

of understanding, according to which Autoliv has an option to buy 

approximately 50% shareholding in AS Norma. Pursuant to the 

memorandum of understanding, the parties will negotiate a contract 

for purchase of shares, which is planned to be undersigned in 

September.

 

Autoliv Inc. has expressed an intention to transfer the production 

of 

automobile safety belts and other components partly to Norma, and 

also update the equipment of Norma. Autoliv Inc. is also deeply 

interested in expanding cooperation with AS Norma to realize its 

long-term plans in the Russian market.

 

Autoliv Inc. is a Swedish undertaking, which produces automobile 

safety belts and other supplies for all larger automobile producers 

in the world. The company has holdings in 60 companies in 28 

different countries, employing more than 21 000 people. In 

addition, 

the company has eight technical centers and 19 complex testing 

tracks, i.e. more than any other safety belt producer. Net turnover 

of Autoliv Inc. in 1998 was 3.5 billion USD and net profit 188 

million USD. The company’s shares are listed on the New York, 

Stockholm and Chicago Stock Exchanges.

 

AS Norma fields of activity include production and sale of seat 

belts 

and car supplies, and subcontracting.

 

 

Toomas Tamsar

AS Norma Grupp

Chairman of the Management Board

Tel +372 6500 100