The Jackson plant has approximately 400 employees and manufactures braking components for the automotive industry. Under the plan, present Jackson plant operations would be consolidated into existing North American facilities.
"Marketplace pressures require difficult actions," said Ron Muckley, Vice President, Operations, North America Braking and Suspension Systems. "We are challenged to provide the absolute lowest cost product and compete with an increasing number of competitors in a global marketplace," he said.
The Jackson Plant is operated by Kelsey-Hayes Company, a subsidiary of TRW Automotive Holdings Corp. TRW Automotive ranks among the world's top automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, employs approximately 60,000 people in 24 countries. 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 http://www.trwauto.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. All forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those contained in forward-looking statements made in this release. Such risks, uncertainties and other important factors which could cause our actual results to differ materially from those contained in our forward-looking statements are set forth in our Report on Form 10-K for the fiscal year ended December 31, 2004 (the "10K") and Reports on Form 10-Q for the quarters ended April 1, 2005 and July 1, 2005, and include: our ability to complete the planned facility closure; possible production cuts by our customers; escalating pricing pressures from our customers; severe inflationary pressures impacting the ferrous metals market and other commodities; non-performance by, or insolvency of, our suppliers and customers; our substantial leverage; interest rate risk arising from our variable rate indebtedness; the highly competitive automotive parts industry and its cyclicality; product liability and warranty and recall claims; our dependence on our largest customers; loss of market share by domestic vehicle manufacturers; limitations on flexibility in operating our business contained in our debt agreements; fluctuations in foreign exchange rates; the possibility that our owners' interests will conflict with ours; work stoppages or other labor issues and other risks and uncertainties set forth under "Risk Factors" in the 10-K and in our other SEC filings. We do not intend or assume any obligation to update any of these forward-looking statements.
CONTACT: Manley Ford of TRW Automotive, +1-734-855-2616, or John Wilkerson
of TRW Automotive
Web site: http://www.trwauto.com/