STOCKHOLM (Thomson Financial) - Autoliv Inc has launched a full scale strategic review and intends to increase its M&A activity, as the tough automotive market offers up opportunities, its chairman Lars Westerberg said in newspaper Dagens Industri.

On the strategic review, Westerberg said: 'We are talking about everything from our product offerings to growth opportunities and acquisitions.'

'There are a number of industry colleagues around the world who are having problems. In North America a number of companies have ended up in Chapter 11 and may be split up, or sold. In that case there will be opportunities for acquisitions, mergers or us taking over licenses,' he added, saying Autoliv is already in the process of taking full control over its joint ventures.

Autoliv's strategic review will take place during the fourth quarter and the first quarter of 2008, with the first possible deal taking place about half a year after this point.

'This is the sort of time period these things usually take,' Westerberg said, adding that organic growth is still important even if the company is now actively looking for acquisitions.