2/26/2010
NEWS BRIEFS
TRW Q4 Sales Jump Double Digits

TRW Automotive reported fourth-quarter sales, including fasteners, rose 20% to $3.4 billion in 2009, boosted by higher vehicle production volumes in Europe and the U.S. Q4 operating income climbed to $229 million compared with an operating loss of $892 million last year.

“In the midst of the worst recession in recent memory, TRW was profitable on an operating and net income level, generated positive cash flow for the third consecutive year, reduced its net debt to the lowest level in the history of the Company and strengthened its capital structure,” stated CEO John Plant.

Full-year sales dropped 22.5% to $11.6 billion in 2009, while net earnings increased to $55 million compared with a $779 million loss the previous year.

While industry production volumes in Europe are predicted to slip 2% to 16 million units in 2010, TRW estimates U.S. volumes will grow 27% to 10.8 million units, pushing the company’s sales forecast to a range between $12.3 billion and $12.9 billion, with first quarter sales expected to be reach $3.4 billion.

“We are optimistic the positive momentum that emerged in the industry in the second-half of 2009 will continue into 2010,” Plant emphasized.

Livonia, MI-based TRW employs about 63,600 people in 26 countries to supply braking, steering and suspension systems, along with engine components and fastening systems. ©2010 GlobalFastenerNews.com

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