Airbag producer with three plants in Romania sells assets to Key Safety

Takata, the Japanese group whose flawed airbags have triggered the biggest recall in the car industry, will be taken over by the US company Key Safety Systems with USD 1.58 billion. KSS will acquire all of Takata's assets, including the three factories owned in Romania. Key Safety Systems is actually owned by Chinese firm Ningbo Joyson Electronic. Takata had filed for bankruptcy in the US and Japan. The case is the worst bankruptcy of a Japanese producer. Takata has two factories in Arad, which produce steering wheels and safety belts, and a factory in Sibiu, which produces airbags, with a total of 4,347 employees. This summer, reports showed that the airbags produced by the company caused the deaths of at least 17 people around the world. Key Safety Systems also owns three factories in Romania, namely one in Arad and two in Hunedoara. They employ more than 4,000 people. The acquisition of the two Takata companies by KSS Romania will lead to the creation of one of the biggest automotive producers in Romania with over 10,000 employees and a turnover of almost RON 3 billion (EUR 644.4 million). editor@romania-insider.com