TRW Completes Purchase of Certain North American Braking Machining and Module Assembly Assets from Delphi
LIVONIA, Mich., Jan. 2 -- TRW Automotive Holdings Corp. (NYSE:TRW) announced today that its subsidiary, TRW Integrated Chassis Systems LLC, completed the purchase of a portion of Delphi Corporation's North American brake component machining and module assembly assets, including production inventory, for approximately $40 million. In addition to the asset purchase, the Company has leased a portion of Delphi's former brake manufacturing facility in Saginaw, Michigan and commenced employment of hourly and salaried employees at the site. In conjunction with the asset purchase, TRW is supplying General Motors with a portion of the business, predominantly braking modules, formerly supplied by Delphi at the Saginaw facility.
About TRW
With 2006 sales of $13.1 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 28 countries and employs approximately 63,800 people worldwide. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. All references to "TRW Automotive", "TRW" or the "Company" in this press release refer to TRW Automotive Holdings Corp. and its subsidiaries, unless otherwise indicated. TRW Automotive news is available on the internet at www.trw.com.
Source: TRW Automotive Holdings Corp.
CONTACT: Investor Relations, Patrick R. Stobb, +1-734-855-3140, or Media, Manley Ford, +1-734-855-2616, John Wilkerson, +1-734-855-3864, all of TRW Automotive Holdings Corp.
Web site: http://www.trwauto.com/
