TRW Announced a Number of Global Business Investments That Support Its Plans for Growth

On Sep 13th, 2011, TRW Automotive Holdings Corp. (NYSE: TRW) announced a number of global business investments that support its plans for growth. The Company will open or expand 11 plants in 2011 and 2012 and will invest in a number of new product areas in several key markets. John Plant, TRW Automotive chairman, president and chief executive officer, commented: "In 2011, we're expecting to increase our research and development expenditure by $80 million compared with 2010 in order to support new technology and product launches, and over the same period capital investment has been increased by 90 percent. We're also currently completing the recruitment of 500 engineers at our technical centres worldwide. " TRW is expanding production of electric power steering in Poland at a new satellite facility in Czechowice, and is increasing the manufacturing of precision motors in Slovakia following a major contract win. It will also expand its electrically powered steering and electronics plant in Anting, China; Its braking joint venture in Nanjing, China; Its occupant safety joint venture in Chengdu; And its fasteners plant in Ningbo. Plant concluded: "TRW has the right manufacturing footprint and product portfolio to support its growth plans. While we are investing heavily to support the tremendous growth in China, Brazil and India, we continue to focus on developing advanced technologies to support our global vehicle manufacturer customers. We believe we are making the right choices to make the right safety solutions available to everyone in all markets. " About TRW With 2010 sales of $14.4 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 26 countries and employs over 60, 000 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. Source: Chinafastener. Com