ZF TRW Group (China) Business Report FY ended Dec. 2016

New Plant

-ZF TRW announced that its two new plants, one for brake systems and the other for occupant safety systems, in Zhangjiagang, Jiangsu began operating. The brake system plant, constructed on 23,000 square meters of land, produces electric parking brakes, front brake calipers, and vacuum boosters, and assembles brake housings, carriers and actuators. The plant expects to hire over 750 people in 2016. The safety system plant with a land area of 16,000 square meters produces driver airbags, front passenger airbags, side airbags, and curtain airbags. It also assembles FS1 and SPR4 retractors, lock systems, and hood lifters. The plant intends to employ more than 500 people by the end of 2016. (From news releases issued by multiple sources on November 2, 2015)

TRW acquired by ZF Friedrichshafen

-In May 2015, the Company completed the acquisition of U.S.-based TRW for approximately USD 12,400 million. The integration of TRW into ZF Group made TRW as Active & Passive Safety Techonology Division of ZF Friedrichshafen AG.

Divestiture

Divestiture of engine valve business to Federal-Mogul
-In February 2015, TRW closed the sale of its wholly owned engine valve subsidiaries to Federal-Mogul Holdings Corporation. In September 2014, TRW announced that it had entered a definitive agreement to divest its engine valve business to Federal-Mogul's Powertrain division for USD 385 million. The business is a leading developer and supplier of engine valves for passenger car engines, heavy-duty engines and large-bore engines for industrial and marine applications with annual global sales of USD 610 million. 5,400 people are employed in the engine valve business across 12 countries. The sale is evidence of TRW's commitment and focus to its safety portfolio as TRW continues to invest in engineering development and its global manufacturing footprint for both active and passive safety systems.

Investment in China

-On August 30, 2016, ZF TRW Automotive Holdings Corp. signed a memorandum of understanding with the Wuhan Economic & Technological Development Zone (Hannan) on its additional investment project in Wuhan. ZF TRW is planning to invest USD 30 million over the next five years to increase capacity and expand the product line at its existing plant. The plant will construct new lines to produce automotive components like disc brakes, electric parking brakes, airbags, and seatbelts. Its output is expected to reach CNY 3.3 billion by 2021, and this expansion project is expected to create 1,500 new jobs. The Wuhan Plant was constructed in May 2011. It currently produces brake calipers, vacuum boosters, brake master cylinders, and other products. (From news releases issued by multiple sources on September 2, 2016)