KOBLENZ, Germany, Nov. 24, 2011 /PRNewswire/ -- TRW Automotive Holdings Corp. (NYSE: TRW), has been granted the 'Automotive Lean Production Award' 2011 in the category 'International Enterprise' for outstanding efficiency, lean processes and lean methodology at its site in Koblenz, Germany. TRW was granted the award at a ceremony held at the BMW World in Munich, yesterday.
TRW was one of six companies to receive the award out of more than 70 vehicle manufacturer and supplier production facilities nominated. The award – now in its sixth year – is an initiative run by the German publication Automobil Produktion and management consultancy Agamus Consult and is now considered to be one of the most significant achievements in the European automotive industry.
Doug DelGrosso, vice president global braking operations, commented: "We are delighted to have received this award, which is a testament to the outstanding performance of all of our employees who have contributed to achieving best practice and 'lean production'. At Koblenz, we have established a very pragmatic lean strategy – helping us to optimize quality and efficiency at every level."
Dr Andreas Siebert, plant manager for TRW's facility in Koblenz, added: "The award demonstrates the effectiveness of TRW's global processes. We have global programs and are proud of our performance in the areas of best practice, six sigma and lean manufacturing."
As part of the process, Agamus Consult analysed lean strategies and their implementation in a benchmark study across the European Automotive industry. The results showed that the award winners had demonstrated a significant increase in performance in terms of quality, productivity and cost reduction - thereby achieving a competitive advantage.
With 2010 sales of $14.4 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.
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, 2010 (our "Form 10-K"), and our reports on Form 10-Q for the fiscal quarters ended April 1, July 1 and September 30, 2011, such as: any developments related to antitrust investigations adversely affecting our results, cash flows, financial condition or reputation; tighter financial markets adversely impacting the availability and cost of credit negatively affecting our business; a material contraction in automotive sales and production adversely affecting our results or the viability of our supply base; commodity inflationary pressures adversely affecting our profitability or supply base; strengthening of the U.S. dollar and other foreign currency exchange rate fluctuations impacting our results; pricing pressures from our customers adversely affecting our profitability; any shortage of supplies causing a production disruption; increasing costs negatively impacting our profitability; the loss of any of our largest customers materially adversely affecting us; 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 adversely affecting 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; any increase in the expense of our pension and other postretirement benefits or the funding requirements of our pension plans reducing our profitability; work stoppages or other labor issues at our facilities or at the facilities of our customers or suppliers adversely affecting our operations; volatility in our annual effective tax rate resulting from a change in our valuation allowances position or other factors; 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.