TRW Automotive Earns Two Ford World Excellence Awards
LIVONIA, Mich., May 17 /PRNewswire-FirstCall/ -- TRW Automotive Holdings Corp. (NYSE: TRW), through its Dacice, Czech Republic, and Resolven, United Kingdom, manufacturing facilities, has earned two prestigious Ford Motor Company World Excellence Awards for exemplary performance.
"We are pleased to be a perennial winner of the Ford World Excellence award which is a tribute to our global operations and commitment to excellence," said TRW president and chief executive officer John Plant. "Winning two of only 51 global awards is a true achievement and TRW will continue to strive to reach world class levels of quality, innovation and customer satisfaction across all of our plants."
The TRW Dacice plant earned a silver award for outstanding performance in the supply of engine valves while the Resolven facility earned a Recognition of Achievement award for Durability and Reliability in its supply to Ford Motor Company.
The World Excellence Awards recognize suppliers who not only achieve the highest level of cost competitiveness, quality and delivery, but also acknowledge the diverse cultures, values, and ideas of the thousands of individuals they employ.
"Suppliers play a critical role in the ONE Ford transformation. Thank you to all of our award winners for the support and commitment to helping Ford serve our customers worldwide with the very best cars and trucks," said Alan Mulally, president and CEO.
TRW was among representatives of Ford's top global suppliers at the recent awards ceremony held at Ford's World Headquarters in Dearborn, Michigan. John Plant accepted the award on behalf of TRW.
About TRW
With 2009 sales of $11.6 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. 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 can 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, 2009 (our "Form 10-K") such as: the financial condition of our customers adversely affecting us or the viability of our supply base; disruptions in the financial markets adversely impacting the availability and cost of credit negatively affecting our business; any shortage of supplies adversely affecting us; any further material contraction in automotive sales and production adversely affecting our results, liquidity or the viability of our supply base; escalating pricing pressures from our customers; commodity inflationary pressures adversely affecting our profitability or supply base; our dependence on our largest customers; 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 liabilities relating to environmental, health and safety regulations; limitations on available cash and access to additional capital due to our substantial debt; strengthening of the U.S. dollar and other foreign currency exchange rate fluctuations impacting our results; any increase in the expense of our pension and other postretirement benefits or the funding requirements of our pension plans; any impairment of a significant amount of our goodwill or other intangible assets; risks associated with non-U.S. operations, including foreign exchange risks and economic uncertainty in some regions; work stoppages or other labor issues at our facilities or at the facilities of our customers or suppliers; volatility in our annual effective tax rate resulting from a change in earnings mix or other factors; assertions by or against us relating to intellectual property rights; the possibility that our largest stockholder's interests will conflict with our or our other stockholders' interests; and other risks and uncertainties set forth in our Form 10-K and in our other filings with the 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.
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