Toray Industries, Inc. announced that it is about to purchase all of the shares of Alva Sweden AB (“ASE”), a manufacturer of automotive airbag cushions, and acquire ASE and its two subsidiaries, Alva Confecções S.A. of Portugal and Alva Tunisia SA.
The discussion about the acquisition started way back in the year 2018 as a result of Toray’s desire to accelerate advances in its integrated operations by entering a more downstream business of cushions and extending its supply chain, thereby driving ongoing growth in the airbag business in response to the market changes.
The acquisition will help Toray to enhance relationship and dealings with module manufacturers and, through them, with automakers, and should enable it to swiftly identify the latest airbag development trends and customer needs. Toray will also incorporate the cushion-manufacturing expertise of Toray in fabric design to bolster its product development and proposal capabilities by drawing on more robust fiber, fabric, and sewing integration.
Image Source: Alva