Sweden: Acquisition Toray Completes Take Over of Alva Sweden
Toray has acquired all shares of the European company – Alva Sweden. Post the deal, the company is expected to retain its company name and operate under a new management team.
Tokyo/Japan – Toray Industries has recently announced that it completed procedures to acquire all of the issued and outstanding shares of Alva Sweden, a manufacturer of cushions for automotive airbag systems, on January 7. Toray announced its intention to make this purchase on August 28, 2019.
Alva Sweden retains its company name.
Profile of Alva Sweden
1. Headquarters location: Västra Götaland County, Mölndal, Sweden
2. CEO: Lars Westerlind
3. Establishment: 1948 (initiating cushion production for automotive airbag systems in 1997)
4. Business: Selling cushions for automotive airbag systems
5. Production units:
(1) Alva Confecções
・Headquarters location: Sintra, Portugal
・Business: Airbag cutting and sewing and sales
(2) Alva Tunisia
・Headquarters location: Ariana, Tunisia
・Business: Airbag cutting and sewing