STOCKHOLM (Thomson Financial) - Autoliv Inc said it would make provisions of 30 mln usd in its second quarter results, as a result of a Federal Circuit Court of Appeals ruling in favour of a former supplier.
Autoliv ASP, Inc, a subsidiary of Autoliv has been ordered to pay damages and interest to a former supplier who sued Autoliv in 1999. The aggregate amount could total approximately 36 mln usd depending on the court's calculation of post-judgment interest which has not yet been made, Autoliv said.
Autoliv said the 30 mln usd new provision together with existing provisions should cover the amount fully.
Autoliv said it has decided to file a motion for reconsideration. hans.chumakonde@thomson.com hc/lam COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.