LIVONIA, Mich., Feb. 13, 2014 /PRNewswire/ -- TRW Automotive Holdings Corp. (NYSE: TRW) was recently awarded the Volvo Cars Quality Through Excellence (VQE) Award at two of its manufacturing facilities in Europe.
The facilities are TRW Automotive (Slovakia) s.r.o. in Nove Mesto, Slovakia, where electrically powered steering motors and belt drive steering systems are produced, and TRW Automotive GmbH in Gelsenkirchen, Germany, that manufactures electrically powered hydraulic steering systems and hydraulic rack and pinion steering gears.
Maciej Gwozdz, TRW vice president, operations, European Steering, said: "We are pleased that two of our European steering facilities have earned this prestigious quality award and are regarded by Volvo Cars as valued partners and among the best suppliers in the business. TRW looks forward to continuously improving its manufacturing expertise in support of Volvo Car's strategic journey."
The VQE Award is based on a set of fundamental quality and manufacturing disciplines which ensure a supplier's success and drive a supplier's continual improvement. The TRW sites in Gelsenkirchen and Nove Meso fulfilled all of Volvo Cars VQE requirements, including 11 award performance elements and a customer endorsement.
In its letter of award notification to TRW, Volvo Cars noted: "Achieving and maintaining the VQE status is proof of the manufacturing site being among the best in the industry. The partnership between the VQE manufacturing sites and Volvo Cars is a key enabler in providing high quality products that meet and exceed our customers' expectations."
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 Annual Report on Form 10-K for the fiscal year ended December 31, 2012 (our "Form 10-K") and our Reports on Form 10-Q for the fiscal quarters ended March 29, 2013, June 28, 2013, and September 27, 2013 such as: any developments related to antitrust investigations adversely affecting our financial condition, results, cash flows or reputation; the loss of any of our largest customers or the loss of a significant amount of their business materially adversely affecting us; 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; 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 or 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.