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TRW Automotive to Supply Chassis Modules to Beijing Benz-DaimlerChrysler Through New Chinese Subsidiary


November 2006
 Filed under: DAIMLERCHRYSLER CORPORATE Car News | DAIMLERCHRYSLER CORPORATE Headlines
LIVONIA, Mich., Nov. 29 /PRNewswire-FirstCall/ -- TRW FAWER Automobile Safety Systems (Changchun) Co., Ltd. (TFASS), a subsidiary of TRW Automotive Holdings Corp. (NYSE:TRW) , has established a manufacturing plant in Beijing, China to produce chassis modules for Beijing Benz-DaimlerChrysler Automotive Co., Ltd. (BBDC).
The 4,500-square meter facility plans to employ up to 100 local workers in the next five years to fulfill its annual capacity of module units at full production. Initially, the plant is committed to supplying rear axles, brake assemblies, front struts and knuckle assemblies to the luxury-car flagship Chrysler 300C and another upcoming sedan platform -- both newly localized in China.

"The continued expansion of our manufacturing footprint in China demonstrates our further commitment to the market and our intention to fully support customers like DaimlerChrysler as they expand here," said Steve Lunn, executive vice president and chief operating officer, TRW Automotive. "The new facility is located near the BBDC assembly plant to allow for sequenced, just-in-time production and will have the capability to supply other customers with chassis modules as well."

TFASS is a joint venture between TRW and the Chinese auto maker First Auto Works (FAW). The venture has recently added the production of airbags and steering wheels to its traditional portfolio of braking and steering systems. The new site, located in Tongzhou District, an industrial suburb of Beijing, extends TFASS' strong chassis capabilities to vehicle manufacturers south of the original manufacturing facility in Changchun, Jilin Province.

Ed Carpenter, vice president, TRW Asia Pacific, says the expansion of TFASS is expected to further strengthen TRW's market position in the region. "Northern China is an increasingly important automotive market, where TRW has achieved great success with the TFASS operation and LucusVarity Langzhong Braking Co., Ltd. As evidenced by the addition of the new Beijing facility, TRW continues to expand where its customers are growing."

About TRW

With 2005 sales of $12.6 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, employs approximately 63,000 people in 26 countries. 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 http://www.trwauto.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, 2005 (the "10-K"), and our reports on Form 10-Q for the quarters ended March 31, June 30 and September 29, 2006, and include: the ability of TRW's facilities to succeed in China; 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 recent 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 (which constitutes a majority of the company's indebtedness), especially in view of the current climate of rising interest rates; 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; 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 Holdings Corp.

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