10/20/2010 11:10:00 AM
NEWS BRIEFS
TRW Automotive Expanding Slovakia Production Facility
TRW Automotive will expand its Nove Mesto nad Vahom plant in Slovakia 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.
“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,” stated plant manager Chris Moorhouse.
TRW will expand the existing manufacturing plant to support the introduction of EPS sensors and EPS Belt Drive steering systems manufacturing. Construction will begin before the end of the year and intends to begin production from the extended facility early in 2011.
Increased global vehicle production pushed TRW Automotive sales, including fasteners, up 34% to $3.7 billion during the second quarter of 2010, while net earnings soared to $204 million.
First-half sales grew 41% to $7.2 billion, with operating income rising jumping to $632 million compared to a $1 million loss during the first six months of 2009. ©2010 GlobalFastenerNews.com
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