Safety Components to Buy Air Bag Maker
COSTA MESA —
Safety Components International Inc. said Thursday it has signed an agreement to buy Phoenix Airbag GmbH, a major European producer of air bags. Phoenix, based in Hildesheim, Germany, is the former air bag subsidiary of Phoenix AG of Hamburg.
Terms were not disclosed. The purchase is expected to close by the end of June.
Safety Components makes automotive air bags and supplies ordnance and other related defense products.
