TRW Automotive Supplies World-Class Safety Systems Including China's First Domestic Electronic Stability Control System for New SAIC Roewe Model14 January 2007
TRW Automotive Holdings Corp. (NYSE: TRW) today announced that its various Chinese subsidiaries are supplying the new Roewe 750 from Shanghai Automobile Industry Corp. (SAIC) with advanced active and passive safety systems including the first electronic stability control (ESC) system for a domestic Chinese vehicle. (Logo: http://www.newscom.com/cgi-bin/prnh/20010824/TRWLOGO) TRW Automotive Components (Shanghai) Co., Ltd. (TACS) is supplying the Roewe with a premium Electronic Stability Control system that combines the capabilities of ABS and traction control with a lateral stability control feature. The technology is designed to assist drivers in maintaining control during high-speed maneuvers or on slippery roads. The vehicle also features TRW's front-row seat belt height adjuster, back- row seat belt systems, master cylinder and Servo brake assembly. The seat belt systems and components are provided by Shanghai TRW Automotive Safety Systems Co., Ltd. (STASS), a TRW-SAIC joint venture. At TRW's site near Beijing, subsidiary LucasVarity Langzhong Baking Co., Ltd. (LVLB) manufactures the actuation products. Launched by a vigorous marketing campaign, Roewe made its highly anticipated debut at the 2006 Beijing International Auto Show as the latest independent brand from SAIC. TRW currently supplies its ESC to nearly 40 vehicle models around the world. Studies from the National Highway Traffic Safety Administration (NHTSA), the Insurance Institute for Highway Safety (IIHS) have indicated ESC's significant effects in helping to reduce the incidence of single-vehicle accidents. "We are committed to helping Chinese customers achieve their goal of creating cars that meet the global standards of safety," said TRW's Dr. Dinghai Pan, the Asia-Pacific chief engineer of customer application and system engineering. "ESC for example, is expected to be standardized for most passenger vehicles in North America by a NHTSA mandate. "We have customized the best of our ESC technology for Roewe, which highlights the vehicle's leading-edge safety features," Dr. Pan added. "As a partner of SAIC, TRW is proud to see that Roewe is poised to become a world- class brand." 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 Forms 10-Q for the quarters ended March 31, June 30 and September 29, 2006, and include: the ability of TRW's subsidiaries 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: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
|