9/13/2011 11:10:00 AM
NEWS BRIEFS
TRW Expanding China Fastener Plant
TRW plans to open a new technical center in China in 2013 capable of accommodating more than 1,000 engineers.
TRW Automotive Holdings Corp. unveiled a number of global business investments.
Among them was expansion of its fasteners plant in Ningbo, China.
“In 2011, we’re expecting to increase our research and development expenditure by $80 million compared with 2010 in order to support new technology and product launches, and over the same period capital investment has been increased by 90 percent,” stated CEO John Plant.
“We’re also currently completing the recruitment of 500 engineers at our technical centers worldwide.”
The Ningbo expansion is part of TRW’s effort to open or expand 11 plants in 2011 and 2012 in France, the UK, China, Poland, Germany and Mexico.
With 2010 sales of $14.4 billion, TRW Automotive ranks among the world’s leading automotive suppliers. Headquartered in Livonia, Michigan, TRW operates in 26 countries and employs over 60,000 people worldwide. ©2011 GlobalFastenerNews.com
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