Detroit Bureau on Twitter

Posts Tagged ‘trw news’

Germany’s ZF Coughs up $13.5 Bil to Buy TRW

Acquisition likely to intensify race for autonomous driving systems.

by on Sep.16, 2014

ZF's acquisition of TRW may have just heated up the competition among suppliers to develop autonomous vehicle technologies.

In a $13.5 billion deal likely to intensify the race to bring autonomous driving technology to market, Germany’s ZF Friedrichshafen AG will acquire U.S. auto partsmaker TRW Automotive Holdings Corp.

The transaction will create the world’s second-largest automotive supplier, with combined sales of approximately $41 billion and 138,000 employees, the two companies said in a joint statement. The agreement was unanimously approved by TRW’s Board of Directors and ZF’s Supervisory Board and Management Board.

Subscribe for Free!

The ZF and TRW deal is expected to close early next year and the combined company “will be well positioned to capitalize on favorable megatrends” in the automotive industry by bringing together complementary product offerings and leading technology positions that serve high-growth areas such as fuel efficiency, increased safety requirements and autonomous driving, executives from the two companies said. (more…)

TRW Admits Guilt in Price Fixing

“Premature” to say if further charges could follow.

by on Jul.31, 2012

TRW pleads guilty and pays $5 mil fine.

TRW Automotive Holdings Corp. said its German subsidiary has agreed to plead guilty in U.S. District Court in Detroit to price fixing charges filed by the U.S. Department of Justice and pay a $5.1 million fine.

TRW Deutschland Holding GmbH of Koblenz, Germany has agreed to plead guilty for its involvement in a conspiracy to fix prices of seatbelts, airbags and steering wheels sold to two German automobile manufacturers, and installed in cars sold in the United States, according to the Justice Dept.

Subscribe Now!

“By agreeing to fix the prices of seatbelts, airbags and steering wheels, the conspirators eliminated competition for occupant safety parts in cars sold to U.S. consumers,” said Scott D. Hammond, Deputy Assistant Attorney General of the Antitrust Division’s criminal enforcement program.

(more…)