Avtodom buys Autoliv's seatbelt, airbag plant in Togliatti

MOSCOW. Feb 28 (Interfax) - Automobile dealer Avtodom, which in 2023 acquired the Russian assets of German automaker Mercedes-Benz, including its auto plant outside Moscow, has acquired the Togliatti automobile safety system component plant of Sweden's Autoliv .

Control over 100% of shares in Autoliv LLC was transferred from Autoliv AB to Andrei Olkhovsky's JSC Avtodom on February 27, the Unified State Register of Legal Entities shows.

Avtodom's press service is not commenting on the terms of the deal or the purpose of the acquisition.

Autoliv LLC, which was incorporated in 2008, manufactured components for automobile safety systems at its plant in Togliatti until 2022. The plant had production lines for seatbelts and locks, airbags and steering systems. The company's customers included the Russian plants of Volkswagen, Toyota, Nissan, Renault and Peugeot-Citroen, as well as other local companies.

Autoliv LLC reported a net profit of 217.7 million rubles for 2021 on revenue of 2.1 billion rubles. With production shutdowns in in the subsequent two years, the company's revenue gradually plunged to almost zero, while losses totalled 1 billion rubles in 2022 and 120 million rubles in 2023. The company estimated losses from the impairment of its idle facilities at more than 150 million rubles.