ALT Technologies was incorporated in 1935 and is a leading producer of key airbag components (with a focus on covers, wraps and seals). The company supplies almost all major airbag producers and has multi-annual contracts with them. This means that ALT products can be found in almost all well-known car brands across the globe.
We expect that the airbag market is to see a strong growth over the coming years. On the one hand, this growth is driven by increasing regulations in emerging markets, tightening safety regulations for new vehicles. On the other hand, consumers in more mature markets are becoming increasingly aware of safety aspects. This has resulted in a higher average number of airbags per vehicle. The growing airbag market and our expertise in the automotive sector make that this partnership fits perfectly within our Smart Industries strategy.
ALT has ambitious plans for growth in Asia and the United States over the coming years. Thanks to our expertise in the automotive industry, built up over many years with earlier investments in VCST, Punch Powertrain, Mackevision and Arplas, we are able to help ALT Technologies' international growth.