TRW Automotive Holdings Corp. today announced that the U.S. Federal Trade Commission (the "FTC") cleared the proposed acquisition by ZF Friedrichshafen AG ("ZF") of TRW Automotive Holdings Corp. ("TRW"). The FTC's clearance is subject to certain conditions, which ZF has agreed to undertake following completion of the proposed acquisition, including the sale of TRW's Linkage and Suspension business which is currently underway. Subject to the receipt of antitrust approval in Mexico, which the parties expect to obtain shortly, and the satisfaction of other customary closing conditions, ZF's proposed acquisition is expected to close later this month.
With 2014 sales of $17.5 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 24 countries and employs approximately 65,000 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, 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.