STOCKHOLM, Sept 14 (Reuters) - Autoliv , the world’s largest maker of airbags and seatbelts, said on Thursday it would carry out a strategic review aimed at splitting its business into two separate companies.
The Swedish auto safety gear maker said it intended to create two publicly traded companies, one focused on passive safety - equipment such as airbag systems - and one focused on electronics.
“Over the last decade our Electronics business has grown and matured next to our world leading Passive Safety business and today we have two distinct, successful businesses, each with its own unique business drivers,” Chief Executive Jan Carlson said in a statement ahead of Autoliv’s capital markets day in Frankfurt.
“We believe it’s time to let them both individually maximize their potential.”
Autoliv said there was no guarantee the review would result in any transaction, such a separation or listing of the businesses, but estimated any separation process was likely to take around one year. (Reporting by Johannes Hellstrom and Niklas Pollard; Editing by Biju Dwarakanath)