LIVONIA, Mich., June 24, 2013 /PRNewswire/ -- TRW Automotive Holdings Corp. (NYSE: TRW) has recently started production of its electrically powered steering (EPS) belt drive system for the first time on a global vehicle platform launching in China. The company is manufacturing the technology at its state-of-the-art facility in Anting.
"Electric steering is a rapidly growing technology globally due to the many advantages it can provide," said Peter Lake, executive vice president for sales and business development at TRW. "Creating a regional production base for our customers will provide a cost effective source for these fuel-saving and emission reducing technologies. It will enable us to expand our EPS footprint for the production of global platforms and help to make it available to our broader customer base in China and Asia."
Over the last 18 months, TRW has installed equipment to produce and assemble the belt drive units at its Anting facility. For this platform, line capacity is expected to be in the range of 400,000 units annually by 2014.TRW offers two Electrically Powered Steering (EPS) solutions to cover the full vehicle platform range, which consume power only when steering assist is needed. The first is the column drive unit which is mounted on the steering column and the second is belt drive where the assist power is applied directly to the rack with a belt drive and ball nut mechanism. Significant fuel economy and CO 2 emissions benefits can be realized with both systems when compared with traditional hydraulic power steering. The technology can deliver a fuel saving of 0.3 to 0.4 L/100km, with a corresponding reduction in carbon dioxide emissions of approximately 7-8g/km. "We have already launched our column drive technology with both China domestic and international customers and are now investing heavily in capacity to introduce our latest innovation – EPS belt drive – to meet the needs of the China market," said Lake. "In addition to EPS, we are also adding local production capabilities for other advanced technologies such as airbag inflators, electric park brake and electronic stability control. TRW is creating the infrastructure to meet all market needs – from domestic vehicles to global platforms." About TRW With 2012 sales of $16.4 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 25 countries and employs approximately 65,000 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. 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 U.S. Private Securities Litigation Reform Act of 1995. We caution readers not to place undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements are subject to numerous assumptions, risks and uncertainties which could cause our actual results to differ materially from those suggested by the forward-looking statements, including those set forth in our Report on Form 10-K for the fiscal year ended December 31, 2012 (our "Form 10-K") and our Report on Form 10-Q for the fiscal quarter ended March 29, 2013, such as: any developments related to antitrust investigations adversely affecting our financial condition, results, cash flows or reputation; economic conditions adversely affecting our business, results or the viability of our supply base; the unsuccessful implementation of our current expansion efforts adversely impacting our business or results; any shortage of supplies causing a production disruption for any customers or us; strengthening of the U.S. dollar and other foreign currency exchange rate fluctuations impacting our results; risks associated with non-U.S. operations, including economic and political uncertainty in some regions, adversely affecting our business, results or financial condition; any inability to protect our intellectual property rights adversely affecting our business or our competitive position; the loss of any of our largest customers materially adversely affecting us; commodity inflationary pressures adversely affecting our profitability or supply base; pricing pressures from our customers adversely affecting our profitability; costs of product liability, warranty and recall claims and efforts by customers to adversely alter contract terms and conditions concerning warranty and recall participation; costs or adverse effects on our business, reputation and results from governmental regulations; costs or liabilities relating to environmental, health and safety regulations adversely affecting our results; work stoppages or other labor issues at our facilities or at the facilities of our customers or those in our supply chain adversely affecting our business, results or financial condition; any disruption in our information technology systems adversely impacting our business and operations; and other risks and uncertainties set forth in our Form 10-K and in our other filings with the U.S. Securities and Exchange Commission. We do not undertake any obligation to release publicly any update or revision to any of the forward-looking statements.
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