Swedish company Autoliv, a manufacturer of safety systems for the automotive industry, has announced a 50 million euro investment programme. The investment is scheduled for completion by 2007 and is intended to boost the company''s production capacity in Romania. The company''s expansion on the local market will see its number of employees double, from a current 500, to 1,200 by the end of next year, Autoliv officials say. The automotive component industry has attracted hundreds of millions of euros in investment over the last few years, in particular thanks to low labour costs. Low labour costs were also behind Autoliv''s decision to produce textiles in Brasov for use in seat belts. Previously, the company imported seatbelt straps from the Netherlands, implying high transport costs. "The decision to go for vertical integration was supported by the positive impact this move will have on labour costs and transport spending," company officials explained. Autoliv, which entered the Romanian market in 1997, announced the completion of an 18 million euro investment project to expand its production capacity at the Brasov plant. ZF
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