Autoliv Inc., the world's largest maker of automotive air bags, said first-quarter profit rose 11 percent, as the Swedish company's tax bill declined.
Net income increased to $81.5 million, or $1.11 a share, from $73.2 million, or 91 cents, a year earlier, Stockholm-based Autoliv said this week in a statement. Sales climbed 7.6 percent to $1.83 billion.
Autoliv has about 3,600 workers at six plants in northern Utah. The company has sought to offset higher raw materials prices by reducing manufacturing costs and setting up a Chinese factory.