TRW Automotive Holdings Corp.
) announced the launch of first electrically powered steering
(EPS) belt drive system in China. The fuel-saving and
emission-reducing technology will be produced in the Anting
TRW Automotive had been installing equipment in the Anting
facility over the last 18 months to produce this technology. With
an annual capacity expectation of 400,000 units by 2014, the
regional production unit will provide a cost effective solution
to the customers. In addition, it will support the company to
serve customers in Asia as well.
The EPS solution comes in two variants; one is the column drive
unit that is mounted on the steering column and the other is the
belt drive, in which the assist power is directly applied to the
rack. These technologies save fuel by 0.3 to 0.4 L/100km and
reduce carbon dioxide emissions by 7-8g/km.
TRW Automotive has already introduced the column drive both in
China and international market, and the company is now focusing
on belt drive. The company is also increasing local production
capabilities for other advanced technologies including airbag
inflators, electric park brake and electronic stability
control. With all these initiatives, TRW plans to create
the infrastructure to fulfill the market demand both in domestic
and global platforms.
TRW Automotive is a leading manufacturer of advanced
technology products and services for the automotive market.
Headquartered in Mich., the company operates in 27 countries
through its subsidiaries.
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These operations primarily involve the design, manufacture and
sale of active and passive safety related products. Currently,
the company retains a Zacks Rank #3 (Hold).
The company's major customers include
Ford Motor Co.
General Motors Company
). They account for nearly 50% of its sales.
TRW posted earnings of $1.51 per share in the first quarter of
2013, topping the Zacks Consensus Estimate of $1.46. However,
earnings fell 6.8% from $1.62 per share in the first quarter of
2012 due to lower operating income on the back of a higher mix of
lower margin business and planned increases in costs to support
Revenues in the quarter were almost flat at $4.2 billion as the
impact of increasing demand for TRW's innovative technologies and
higher vehicle production volumes in China were offset by
significantly lower vehicle production in Europe.