Toray Industries to acquire Sweden-based airbag cushion maker

Toray Industries has concluded an agreement to purchase Alva Sweden, a manufacturer of cushions for automotive airbag systems in Europe since 1997, and its two subsidiaries, Alva Confecções in Sintra, Portugal, and Alva Tunisia in Ariana, Tunisia.

With headquarters in Mölndal, Sweden, Alva was established in 1948, initially as an apparel maker. The company reported sales of €32.3m in 2018 with around 1,030 employees.

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