TRW Automotive was the eighth largest automotive supplier worldwide and the seventh-largest company in the Detroit Metro Area and had nearly 64,000 employees in 22 countries worldwide. In 2015, TRW Automotive was acquired by German ZF Friedrichshafen and subsequently renamed ZF TRW Automotive Holdings Corp prior to being incorporated into ZF from 2016.
TRW Automotive was an American company based in Livonia, Michigan. Tracing its roots from TRW Inc.,[2][3] TRW Automotive's production featured a variety of automotive products including integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, seat belts and airbags, and engine valves among others.[4] The company's operation activities were divided into 4 segments, Chassis Systems, Occupant Safety Systems, Electronics, and Automotive Components.[3] According to its sales statistics, in 2003, TRW Automotive was the eighth largest automotive supplier worldwide and the seventh-largest company in the Detroit Metro Area. The firm had nearly 64,000 employees in 22 countries worldwide.[4]
In 2002, aerospace company Northrop Grumman purchased TRW,[5] and subsequently sold the TRW's automotive division to private equity firm Blackstone Group for $4.73 billion. According to the final agreement, Blackstone owned 80.4% of the business, while Northrop Grumman acquired 19.6% of it. In a statement, John Plant, the CEO of TRW Automotive said, "The company is now 100 percent focused on the needs of automotive customers, and we have an exciting opportunity to capitalize on our position as the global leader in automotive safety."[4]
In 2009, TRW Automotive made net profit earnings of $76 million. The next year, the firm had a profit of $189 million, which was more than double than the previous year. According to Plant, that was a result of the industry recovery following the 2007-08 financial crisis and the company's venture into emerging markets.[6] On September 15, 2014, it was announced that German car parts maker ZF Friedrichshafen would buy TRW Automotive for approximately $13.5 billion including debt.[7][8] The takeover was completed on the 15th May 2015, and TRW Automotive now operates as part of ZF Friedrichshafen AG, as Division 'Active & Passive Safety Technology'.[9]
US$ 16.4 billion (FY 2012)
US$ 1.09 billion (FY 2012)
