Amtek Auto Reportedly In Talks To Acquire TRW Auto Suspension Business
Mar 25 15
Amtek Auto Ltd. (BSE:520077) is reportedly in talks to acquire the suspension business from TRW Automotive Holdings Corp. (NYSE:TRW). The exchange has sought a clarification of this. Amtek Auto is among companies in talks to acquire TRW Automotive Holdings Corp.’s suspension business, people familiar with the matter said. TRW agreed to sell the operations in order to receive European antitrust approval for its acquisition.according to a March 12, 2015, regulatory filing. According to Bloomberg, Colleen Hanley, a spokeswoman for TRW Automotive, declined to comment till a buyer is confirmed. Amtek Senior Managing Director John Flintham didn’t answer two phone calls seeking comment.
TRW Automotive Holdings Corp. to Bring the Weight Savings and Diverse Functions of its Electric Park Brake Technology to the Light Truck Market
Mar 4 15
TRW Automotive Holdings Corp. will bring the weight savings and diverse functions of its electric park brake (EPB) technology to the light truck market beginning with a first-to-market introduction on a high volume North American platform in 2017. In addition shifting from a mechanically controlled to an electronically controlled solution enables many new functions that can work with other vehicle systems to add value for consumers. Further advantages include freeing up interior cabin space through the elimination of levers or foot pedals used to engage mechanical park brakes as well as the brake cabling – all replaced by a simple button or switch and electronic wiring. This simplifies vehicle assembly, allows for more flexible interior design and saves more weight.
Trw Automotive Holdings Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Sales Guidance for the First Quarter of 2015; Provides Production and Financial Guidance for the Full Year of 2015
Feb 13 15
TRW Automotive Holdings Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported sales of $4,348 million against $4,496 million a year ago. The positive impact on sales related to increasing demand for TRW's active and passive safety technologies was more than offset by the effect of exiting certain businesses within the company's North American brake component and assembly operations in the first quarter of 2014 and the negative impact of currency movements between the two periods. Operating loss was $481 million against operating income was $300 million a year ago. Loss before income taxes was $502 million against earnings before income taxes were $261 million a year ago. Net loss attributable to the company was $360 million against net earnings attributable to the company were $363 million a year ago. Diluted loss per share was $3.22 against diluted earnings per share were $3.00 a year ago. LBITDA was $380 million against EBITDA was $403 million a year ago. Adjusted EBITDA was $472 million against $447 million a year ago. Cash flow provided by operating activities was $673 million against $886 million a year ago. Capital expenditures were $340 million against $324 million a year ago. Free cash flow was $508 million against $562 million a year ago. On the non-GAAP basis, the company reported operating income was $364 million against $336 million a year ago. Earnings before income taxes were $350 million against $312 million a year ago. Net earnings attributable to the company were $268 million against $222 million a year ago. Diluted earnings per share were $2.31 against $1.84 a year ago. Cash flow was outstanding with the company generating cash from operations of $673 million during the quarter.
For the year, the company reported sales of $17,539 million against $17,435 million a year ago. The higher level of sales was driven by increasing demand for TRW's innovative technologies and higher vehicle production volumes, partially offset by the effect of exiting certain businesses within the Company's North American brake component and assembly operations in the first quarter of 2014. Operating income was $501 million against $1,227 million a year ago. Earnings before income taxes were $430 million against $1,121 million a year ago. Net earnings attributable to the company were $293 million against $970 million a year ago. Diluted earnings per share were $2.54 compared with $7.85 a year ago. EBITDA was $942 million against $1,646 million a year ago. Adjusted EBITDA was $1,843 million against $1,738 million a year ago. Cash flow provided by operating activities was $954 million against $1,126 million a year ago. Capital expenditures were $694 million against $735 million a year ago. Free cash flow was $435 million against $391 million a year ago. On the non-GAAP basis, the company reported operating income was $1,395 million against $1,306 million a year ago. Earnings before income taxes were $1,331 million against $1,220 million a year ago. Net earnings attributable to the company were $958 million against $850 million a year ago. Diluted earnings per share were $8.18 against $6.89 a year ago. As on December 31, 2014, the company's net debt outstanding was $547 million.
The company's planning assumptions for industry production volumes in 2015 are approximately 17.4 million units in North America and 20.0 million units in Europe, up 2% and flat, respectively, compared to 2014 levels. The Company continues to expect expansion in vehicle production volumes in China and rest of world regions. Based on these production levels, the negative impact of lost sales related to divested businesses, primarily the previously announced sale of TRW’s engine valve business, and the Company’s expectations for foreign currency exchange rates, full year 2015 sales are expected to range between $16.6 billion and $16.9 billion. Capital spending for the 2015 year is expected to be in the range of $650 million to $690 million.
First quarter of 2015 sales expected to be approximately $4.2 billion.