STOCKHOLM -- Autoliv has agreed to acquire substantially all of Delphi’s Occupant Protection Systems (OPS) operations in Korea and China. These operations are expected to generate approximately $250 million in annualized sales in 2010.

Under the terms of the agreement, Autoliv will acquire substantially all of Delphi OPS operations in Korea and China, including intellectual property, physical assets and a highly skilled workforce of approximately 600 associates. Existing customers include HKMC (Hyundai, Kia), Chery and Tata.

In the fourth quarter 2009, Autoliv acquired assets related to Delphi’s OPS operations in Europe and North America. These transactions are expected to add approximately $150 million to Autoliv sales during 2010.

“We are very satisfied to have now finalized agreements to acquire virtually all of Delphi OPS operations worldwide,” said Jan Carlson, president and CEO of Autoliv. “This most recent agreement further improves our already strong market position in Korea and China and reinforces our growth strategy for Asia.”

The Asian transaction is expected to close by March 31, subject to regulatory approvals and customary closing conditions.