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Report: Takata Chooses Autoliv, Key Safety Systems as Final Bidders
Airbag maker Takata Corp. has narrowed its list of financial saviors to two bidders with extensive airbag design and production: Sweden’s Autoliv and U.S.-based Key Safety Systems, sources tell Bloomberg News.
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Airbag maker Takata Corp. has narrowed its list of financial saviors to two bidders with extensive airbag design and production: Sweden’s Autoliv and U.S.-based Key Safety Systems, sources tell Bloomberg News.
Autoliv already leads its rivals in airbag sales and would capture more than half the market if it acquires Takata. If Key Safety prevails, it would jump from fourth to second, Bloomberg says.
But the news service notes the selection process remains fluid and could change before year-end, when Takata hopes to find a buyer and complete its restructuring plan. The decision must be approved by Takata’s carmaker customers, who are eager to minimize any production disruption.
Takata's buyer will face costs and liabilities involving the recall by more than a dozen carmakers of roughly 100 million Takata airbag inflators that could explode during a crash. The devices have been blamed for at least 17 fatalities and 130 injuries to date.
Takata derives about 36% of its annual revenue from airbags, Bloomberg says. The supplier also makes safety belts and other products.
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