TRW to Invest in Expansion of Slovakian Plant to Support Electric Steering Growth
TRW Steering Systems Slovakia s.r.o., a subsidiary of the global leader in automotive safety systems, TRW Automotive Holdings Corp. (NYSE: TRW), today announced plans to expand its Nove Mesto nad Vahom plant to support the growth of TRW's Electrically Powered Steering (EPS) systems business. The investment could lead to the creation of up to 250 new jobs over a three -year period.
TRW's Nove Mesto facility currently manufactures precision motors for vehicle steering systems and employs 400 people. The Company launched its Column Drive EPS system in 2001 and last year started production of Belt Drive EPS with Ford Motor Co. in North America. This product will launch with Ford of Europe later this year and a second global manufacturer in 2012.
Plant manager, Chris Moorhouse, said: "TRW is committed to its presence in Slovakia to support the growing automotive activities there. This facility expansion represents an important investment for the next generation of TRW's steering technology and demonstrates the achievements of our dedicated workforce here in Nove Mesto nad Vahom."
Within its investment plan, the Company will expand the existing manufacturing plant to support the introduction of EPS sensors and EPS Belt Drive steering systems manufacturing. TRW plans to start construction before the end of the year and intends to begin production from the extended facility early in 2011.
Michael Degen, vice president European Steering Operations, said: "We are technology leaders in the area of Electrically Assisted Steering and are committed to investing in the growth of this technology.
"Electric Steering can offer significant fuel efficiency improvements - of up to 4 percent - compared with hydraulic systems as it draws power only when needed. With an increased focus on reducing harmful carbon dioxide emissions, we see increased interest in this technology globally. EPS also enables tunable steering feel characteristics and integration opportunities with Driver Assist Systems such as Park Assist or Lane Departure Warning."
The fuel efficiency benefits of EPS systems equate to a fuel savings of 0.3 to 0.4 L/100km, with a corresponding reduction in carbon dioxide emissions of approximately 7-8g/km.
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.