ALT Attracts Capital for Global Expansion of Auto Safety Production
- New shareholder enables expansion into new global markets
- New production facility in China planned for end 2011 to manufacture air bags and other automotive occupant safety applications
- Significant investments in new software, equipment, and product innovation
ALT Technologies bv, one of Europe’s leading manufacturers of self-adhesive and die-cut products for customers in the automotive, electronics, durable goods and security sectors, today announced that the company has attracted a major new shareholder, Benelux-based Standard Investment. The move brings fresh capital to enable ALT to establish a new production facility in China and begin investigating opportunities in other fast-growing global markets. The capital will also be invested in a new ERP system and a range of new digital production equipment which will significantly enhance ALT’s ability to develop new and innovative products for existing and new markets.
The planned new facility will supply the fast-growing Chinese market for auto airbags, a sector in which ALT is currently the European leader. The company has already contracted for the facility’s construction and equipment, and the plant is scheduled to open this year. Planned production capacity by end 2011 is approximately 10 million airbag covers and related air bag systems, tripling to 30 million by end 2012.
In addition to establishing the new facility, ALT has invested in new digital equipment in its European production facilities and will invest in a new Enterprise Resource Planning (ERP) system which will enable end-to-end Electronic Data Interchange (EDI) with customers and suppliers, scheduled for full implementation in 2012. The company will also continue to investigate opportunities for similar expansions in other high-growth global markets such as South America and India.
“The airbag and other occupant safety systems we produce meet the highest quality standards and by our calculations they help to save a life every two hours,” said Jean-Luc Verstraeten, ALT Managing Director. “Opening up production in the fast-growing Chinese market is a great opportunity to significantly increase this figure.”