May 31, 2018 / 6:21 AM / a year ago

Sweden's Autoliv says Veoneer order intake grew 48 pct over past 12 months

STOCKHOLM, May 31 (Reuters) - Autoliv , the world’s largest maker of airbags and seatbelts, said it had seen record order intake over the past year for its electronics business, Veoneer, and raised its longer-term forecast for some electronics products.

The Swedish company, which plans to spin-off and list Veoneer in early July, said that the unit had recorded a 48 percent jump to $1.1 billion in annual order intake over the last 12 months.

It also said that it saw greater potential upside in its active safety market business, which makes products such as radars and vision systems, prompting it to marginally increase its 2025 sales target for this part of Veoneer to more than $4 billion, from a previous estimate of around $4 billion. (Reporting by Johannes Hellstrom and Esha Vaish in Stockholm)

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