SeeNews - The Corporate Wire
BUCHAREST (Romania) - Swedish car safety equipment maker Autoliv may move its production operations from Romania to Russia, Swedish media reported.

The company is building two new plants in Russia worth 500 million Swedish krona ($72.1 million/56.3 million euro), Dagens Industri daily reported on Thursday on its website.

Autoliv has decided to relocate its operations from several countries to Russia due to the country's lower taxes and salary costs, Dagens Industri added.

Autoliv develops and manufactures automotive safety systems for the world's major car makers. It operates around 80 plants in 29 countries. In Romania, it has five manufacturing facilities, a technology center and a laboratory, according to the company's website.