News Releases

TRW Automotive Confirms Sale of Quality Safety Systems Joint Venture Stake To Tokai Rika of Japan

PRNewswire
LIVONIA, Mich.
Jun 30, 2003

TRW Automotive has announced the sale of its stake in Quality Safety Systems Company (QSS) to Tokai Rika Co., Ltd. of Japan (TRJ), its partner in the Canadian seatbelt joint venture for the past 17 years. Terms of the sale were not disclosed.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010824/TRWLOGO )

In announcing the agreement, Dennis Boyer, vice president, operations, for TRW Automotive's Occupant Safety Systems business in North America, commented that the QSS joint venture had met the goals that both partners set out to achieve when QSS was established in 1986. Those goals, said Boyer, were to provide TRJ with a North American manufacturing base from which to serve its traditional customers in North America and to expand TRW's base of knowledge and experience in supplying to Japanese vehicle manufacturers.

Noted Boyer, "The QSS regionally-focused seat belt joint venture is becoming less consistent with today's consolidating global market where the traditional lines between vehicle manufacturers are becoming blurred and an increasing number of vehicle platforms are becoming global. This new arrangement will enable both TRW Automotive and QSS to aggressively pursue broader market opportunities."

  QSS is located in Tecumseh, Ontario, and employs approximately 800 people.

  About TRW

TRW Automotive's 2002 sales of $10.6 billion place it among the ten largest of the world's automotive suppliers. Headquartered in Livonia, Michigan, USA, the company employs approximately 63,000 people in 22 countries who design, engineer, test and manufacture the industry's broadest array of automotive safety systems. The company's products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine valves, fastening systems and aftermarket replacement parts and services. TRW Automotive news is available on the Internet at www.trwauto.com .

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010824/TRWLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840

SOURCE: TRW Automotive

CONTACT: Manley Ford, +1-734-266-2616, or John Wilkerson, +1-734-266-3864, both of TRW USA; Ilke Kaufmann of TRW Europe, +49-211-584-557; or Jim Bianchi of Bianchi PR, +1-248-269-1122

Web site: http://www.trwauto.com/


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