LIVONIA, Mich., April 29, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- TRW Automotive Holdings Corp. (NYSE: TRW) today announced that its Queretaro, Mexico, plant operated by its subsidiary Frenos y Mecanismos, S.A. de C.V., has received the Honda de Mexico 'Excellence Award'. This is the second consecutive year the plant has earned Honda's highest quality award.
The plant was selected due to its outstanding customer service record. In terms of quality metrics, the Queretaro plant achieved 0 PPM (parts per million) quality defects and 100% on-time delivery while meeting Honda's cost targets.
"We are very proud to receive this award from our valued customer. TRW is dedicated to providing excellent products coupled with outstanding service and it is gratifying to have our efforts recognized in this way," said Bryan Crutchfield, general manager, NAFTA (North American Free Trade) Region. "Our goal now is to make it three years in a row."
Previously, the Queretaro plant received a Honda de Mexico 'Best Supplier Award' three years running, again for 0 PPM quality defects and 100% on-time delivery.
The awards ceremony took place in Guadalajara, Mexico, and guests were given the opportunity to tour Honda's El Salto plant to see the Honda CRV in production. Honda de Mexico has indicated that it plans to produce 50,000 CRVs annually.
With 2007 sales of $14.7 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 27 countries and employs more than 66,000 people worldwide. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. All references to "TRW Automotive", "TRW" or the "Company" in this press release refer to TRW Automotive Holdings Corp. and its subsidiaries, unless otherwise indicated. TRW Automotive news is available on the internet at www.trw.com .
This release contains statements that are not statements of historical fact, but instead are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers not to place undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements are subject to numerous assumptions, risks and uncertainties which can cause our actual results to differ materially from those suggested by the forward-looking statements, including those set forth in our Report on Form 10-K for the fiscal year ended December 31, 2007, such as: loss of market share by domestic North American vehicle manufacturers and resulting production cuts and restructuring initiatives, including bankruptcy actions, of our suppliers and customers; escalating pricing pressures from our customers; commodity inflationary pressures adversely affecting our profitability and supply base, including any resulting inability of our suppliers to perform as we expect; product liability, warranty and recall claims and efforts by customers to alter terms and conditions concerning warranty and recall participation; strengthening of the U.S. dollar and other foreign currency exchange rate fluctuations; work stoppages or other labor issues at our facilities or at the facilities of our customers or suppliers; our substantial debt and resulting vulnerability to an economic or industry downturn and to rising interest rates; cyclicality of automotive production and sales; risks associated with non-U.S. operations, including foreign exchange risks; adverse affects of environmental and safety regulations; assertions by or against us relating to intellectual property rights; the possibility that our largest shareholder's interests will conflict with ours; and other risks and uncertainties set forth in our Report on Form 10-K and in our other filings with the Securities and Exchange Commission. We do not undertake any obligation to release publicly any revision to any of these forward-looking statements.
SOURCE TRW Automotive Holdings Corp.
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