TRW to operate as separate business under ZF acquisition terms

  • 15-Sep-2014 05:06 EDT
TRW photo - 1_ACC.jpg

One of TRW's technology offerings is camera-based adaptive cruise control.

Germany's ZF has entered into a definitive agreement to acquire U.S.-based TRW Automotive Holdings Corp. for $13.5 billion, according to a Sept. 15 TRW press release. ZF has stated that TRW will be operated as a separate business division within ZF. The companies' combined sales are about $41 billion (€30 billion) and they employ about 138,000 people across the globe. John C. Plant, Chairman and CEO of TRW, said: "We have long respected ZF as a very successful company in our industry with similar values and focus on innovation. This transaction provides significant benefits for our shareholders who will receive full and certain value for their shares, as well as for our employees, customers, and communities, all of which will reap the benefits of being part of a larger, more diversified global organization. Our employees have shown admirable dedication in growing TRW into the formidable company it is today, and our strong performance is a testament to their hard work."

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