TRW Opens New Steering Wheel Facility In Romania
LIVONIA, Mich., April 29, 2013 /PRNewswire/ -- TRW Automotive Holdings Corp. (NYSE: TRW) recently held the opening ceremony of a new facility in Baia Mare, Romania. The plant is a steering wheel leather wrapping facility and currently employs around 300 people.
Ovidiu Ambrus, plant manager for TRW's facilities in Romania commented: "We have opened the plant to meet the current and growing requirements primarily for Audi. We have an excellent workforce with the right skill set in this area and are confident that we will meet the high quality standards for our customers.
"Baia Mare is an optimal location in terms of infrastructure and transportation networks and will strengthen TRW's position as one of the largest Romanian employers in the automotive supply industry."
Dr. Karsten Evers, director of the Steering Wheel Systems product line added: "The Baia Mare facility fits perfectly in our global manufacturing footprint for steering wheels, further developing our competitive position."
Baia Mare started operations in January 2013 and it is planned that up to 650 employees will work at the plant by the end of this year. TRW started operations in Romania in 2004 with steering wheel leather wrapping in Timisoara and has expanded its activities to cover die casting, foaming and airbag production. In addition to Timisoara and Baia Mare, TRW has three further sites in Oravita, Lupeni and Marghita employing a total of around 3400 staff.
Ambrus concluded: "The opening of Baia Mare is an important occasion and we are delighted to welcome the Mayor of the town and other local and national authorities which have supported our development here. In Romania, we work with 14 major vehicle manufacturers including VW, Fiat and Ford and will continue to develop our footprint in line with customer requirements."
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.
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"), 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.
SOURCE TRW Automotive Holdings Corp.