TRW Automotive explained

TRW Automotive Holdings Corp.
Type:Subsidiary
Industry:Automotive industry
Fate:Acquired
Predecessor:TRW Inc.
Successor:ZF TRW Automotive Holdings Corp
Foundation:2002
Defunct:2015
Location City:Livonia, Michigan
Location Country:United States
Locations:200+ facilities
Area Served:Worldwide
Key People:John C. Plant (Chairman & CEO)
Products:Automotive systems
Revenue: US$ 16.4 billion (FY 2012)
Operating Income: US$ 1.09 billion (FY 2012)
Net Income: US$ 1.01 billion (FY 2012)
Assets: US$ 10.9 billion (FY 2012)
Equity: US$ 3.70 billion (FY 2012)
Num Employees:66,100
Footnotes:[1]

TRW Automotive Holdings Corp. was an American global supplier of automotive systems, modules, and components to automotive original equipment manufacturers (OEMs) and related aftermarkets. Tracing its roots from TRW Inc. it was originally headquartered in Livonia, Michigan. It was created in 2002 when the aerospace company Northrop Grumman purchased TRW and sold its automotive division to Blackstone Group.

TRW Automotive was the eighth largest automotive supplier worldwide and the seventh-largest company in the Detroit Metro Area and had nearly 64,000 employees in 22 countries worldwide. In 2015, TRW Automotive was acquired by German ZF Friedrichshafen and subsequently renamed ZF TRW Automotive Holdings Corp prior to being incorporated into ZF from 2016.

Overview and history

TRW Automotive was an American company based in Livonia, Michigan. Tracing its roots from TRW Inc.,[2] TRW Automotive's production featured a variety of automotive products including integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, seat belts and airbags, and engine valves among others. The company's operation activities were divided into 4 segments, Chassis Systems, Occupant Safety Systems, Electronics, and Automotive Components.[3] According to its sales statistics, in 2003, TRW Automotive was the eighth largest automotive supplier worldwide and the seventh-largest company in the Detroit Metro Area. The firm had nearly 64,000 employees in 22 countries worldwide.

Further developments

In 2002, aerospace company Northrop Grumman purchased TRW,[4] and subsequently sold the TRW's automotive division to private equity firm Blackstone Group for $4.73 billion. According to the final agreement, Blackstone owned 80.4% of the business, while Northrop Grumman acquired 19.6% of it. In a statement, John Plant, the CEO of TRW Automotive said, "The company is now 100 percent focused on the needs of automotive customers, and we have an exciting opportunity to capitalize on our position as the global leader in automotive safety."[5]

In 2009, TRW Automotive made net profit earnings of $76 million. The next year, the firm had a profit of $189 million, which was more than double than the previous year. According to Plant, that was a result of the industry recovery following the 2007-08 financial crisis and the company's venture into emerging markets.[6] On September 15, 2014, it was announced that German car parts maker ZF Friedrichshafen would buy TRW Automotive for approximately $13.5 billion including debt.[7] [8] The takeover was completed on the 15th May 2015, and TRW Automotive now operates as part of ZF Friedrichshafen AG, as Division 'Active & Passive Safety Technology'.[9]

TRW Automotive milestones

External links

Notes and References

  1. Web site: TRW Automotive Holdings Corp. (TRW). Yahoo! Finance.
  2. Web site: History of TRW Inc. Funding Universe. April 26, 2020.
  3. Web site: TRW Automotive Holdings. Forbes. April 26, 2020.
  4. Web site: Northrop Grumman Announces Closing of TRW Merger. Northrop Grumman. April 25, 2020.
  5. Web site: TRW Automotive Drives Ahead Under Blackstone. Blackstone Group. March 3, 2003. April 26, 2020.
  6. Web site: Buckle Up For Aggressive Growth With TRW Automotive. Forbes. Wilton. Bill. December 9, 2010. April 26, 2020.
  7. News: Kim. Soyoung. Taylor. Edward. Germany's ZF to take over TRW Automotive for $13.5 billion. Reuters. September 15, 2014. September 16, 2014.
  8. Web site: Brower Piven Announces Investigation Of TRW Automotive Holdings Corp. In Connection With The Proposed Sale Of The Company To ZF Friedrichshafen. Business Wire. September 15, 2014. September 16, 2014.
  9. Web site: ZF schließt Übernahme von TRW Automotive ab . 2015-05-15.
  10. Web site: TRW's Second Generation Active Control Retractor Seat Belt System Launches in North America. PR Newswire. March 20, 2014. March 26, 2020.
  11. Smart parking brake distributes electric park brake functions. Springer Publishing. June 2008. 10.1007/BF03225013. Ohlig. Benedikt. Michels. Erwin. Kesselgruber. Dirk. Atz Worldwide. 110. 6. 36–41.
  12. Web site: History. TRW Automotive. April 26, 2020.
  13. Web site: New Options in Vehicle Dynamics Control. Electronic Design. Badawy. Dr. Aly. March 1, 2005. April 26, 2020.
  14. Web site: e10vk. U.S. Securities and Exchange Commission. April 26, 2020.
  15. Web site: Electronic Braking System lends to vehicle stability. Thomas Net. September 24, 2007. April 28, 2020.
  16. Web site: TRW Chosen As PSA's Driver Assist Systems Partner For All Peugeot Citroen Vehicles Beginning In 2017. PR Newswire. January 6, 2015. April 28, 2020.
  17. Web site: TRW Automotive Introduces New Head Protection System for Convertibles. Thomas Net. June 26, 2008. April 28, 2020.
  18. Web site: TRW Automotive (TRW) Develops Scalable Low Cost Airbag Electronic Control Units for Emerging Markets. Street Insider. May 22, 2008. April 28, 2020.

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