ALV · Autoliv, Inc.

Autoliv announced a significant restructuring plan to close its manufacturing plants in Türkiye, which produce steering wheels, airbags, and seatbelts. The decision, approved on May 8, 2026, is driven by management's determination that manufacturing capacity in the EMEA region exceeds future demand. The company expects to incur a final pre-tax charge of approximately $142 million, with the majority recorded in the second quarter of 2026. This includes $13 million in non-cash charges from fixed asset and inventory write-offs and $129 million in cash charges primarily for severance and employee retention costs. The severance calculations use a projected exchange rate of 53 Turkish Lira per dollar. Autoliv anticipates an annual pre-tax benefit of $40 million starting in 2027, fully realized by 2028, and a reduction of approximately 2,200 employees. Production will be moved to other existing facilities in the EMEA region, with complete closure expected in the first half of 2028. Additionally, the company declared a quarterly dividend of $0.87 per share for the second quarter of 2026, payable on June 8, 2026, to common stockholders and on June 9, 2026, to Swedish Depository Receipt holders. The annual meeting held on May 7, 2026, resulted in the election of all nine director nominees, approval of executive compensation on an advisory basis, and ratification of Ernst & Young AB as the independent auditor. These actions reflect Autoliv's ongoing efforts to optimize its manufacturing footprint and return capital to shareholders.