11/3/2010 10:57:00 AM
NEWS BRIEFS

Rising global automotive production boosted TRW Automotive sales, including fasteners, up 10% to $3.4 billion during the third quarter of 2010, while net earnings quadrupled to $199 million. Operating income nearly doubled to $269 million.
 

“TRW’s performance continues to be led by strong revenue growth combined with a low cost structure,” commented CEO John Plant. 
 

During the first nine months of 2010 sales grew 30% to $2.4 billion from “the significantly improved global vehicle production volumes.” Nine-month net earnings totaled $619 million, compared to a net loss of $31 million during the first nine months of 2009.
 

TRW expects full year production to total 11.8 million units in North America and 18 million units in Europe, pushing the company’s full-year sales forecast to approximately $14.1 billion.
 

“Although vehicle production schedules have moderated in the second half of 2010 compared to the first half of the year and earlier expectations, the overall recovery in the automotive industry will help support a strong year for TRW,” Plant stated.  ©2010 GlobalFastenerNews.com

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