2nd
January 2008 - TRW Completes
Purchase of Certain North American Braking Machining and Module Assembly
Assets from Delphi
TRW Automotive Holdings 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.
Forward-Looking Statements
This release contains statements that are
not statements of historical fact, but instead are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All forward-looking statements involve risks and
uncertainties. Our actual results could differ materially from those
contained in forward-looking statements made in this release. Such
risks, uncertainties and other important factors which could cause our
actual results to differ materially from those contained in our
forward-looking statements are set forth in our Report on Form 10-K for
the fiscal year ended December 31, 2006 (the "10-K") and our Forms 10-Q
for the quarters ended March 30, June 29 and September 28, 2007, and
include: our ability to successfully operate the Saginaw facility;
production cuts or restructuring by our major customers; work stoppages
or other labor issues at the facilities of our customers or suppliers;
non-performance by, or insolvency of, our suppliers and customers, which
may be exacerbated by bankruptcies and other pressures within the
automotive industry; the inability of our suppliers to deliver products
at the scheduled rate and disruptions arising in connection therewith;
interest rate risk arising from our variable rate indebtedness; loss of
market share by domestic vehicle manufacturers; efforts by our customers
to consolidate their supply base; severe inflationary pressures
impacting the market for commodities; escalating pricing pressures from
our customers; our dependence on our largest customers; fluctuations in
foreign exchange rates; our substantial leverage; product liability and
warranty and recall claims and efforts by customers to alter terms and
conditions concerning warranty and recall participation; limitations on
flexibility in operating our business contained in our debt agreements;
the possibility that our owners' interests will conflict with ours and
other risks and uncertainties set forth under "Risk Factors" in the 10-K
and in our other SEC filings. We do not intend or assume any obligation
to update any of these forward-looking statements.
Source: TRW Automotive Press
Release