TRW Forms Joint Venture With Chinese Fastener and Plastic Component Manufacturer

Business Wire, March 16, 1998

CLEVELAND--(BUSINESS WIRE)--March 16, 1998--TRW Inc. announced today the formation of a joint venture with Ningbo Yong Xing Automobile Parts, Co., Ltd., a manufacturer of automotive fasteners and plastic injection-molded components, located in Ningbo, China.

TRW will own 70 percent of the joint venture, which is subject to regulatory approval. Other terms of the venture were not disclosed.

"The joint venture with Ningbo Yong Xing Automobile Parts Co., Ltd. emphasizes our focus on the Chinese automotive industry," said Ronald D. Sugar, executive vice president and general manager, TRW Automotive Electronics Group. "This transaction builds on TRW's seat belt joint venture in Shanghai and its automotive switch joint venture in Suzhou.

"We are delighted to have concluded this particular venture. Ningbo Yong Xing Automobile Parts Co. is a leading supplier of fastening systems to Chinese automobile manufacturers and an excellent fit for our worldwide engineered fastening systems business."

TRW (NYSE:TRW) is a U.S.-based company with headquarters in Cleveland, Ohio, and sales of nearly $12 billion (including the recent BDM acquisition). The company, which employs approximately 80,000 people in 31 countries, provides advanced-technology products and services for the automotive, space, defense, and information technology markets. TRW is one of the largest independent automotive components suppliers in the world with $7 billion in worldwide automotive sales. Its automotive product lines include fastening systems; switch and control systems; occupant restraint systems; electronic security and convenience systems; steering and suspension systems; and engine components.

TRW news releases are available on the Internet through TRW's corporate Web site (http://www.trw.com).

CONTACT: TRW

Jay McCaffrey, 216/291-7179

Christine D'Alleva, 248/442-8484