Two well-known companies in the industry will combine to create the second-largest auto parts supplier in the world. ZF Friedrichshafen AG, best known for its transmissions, has announced it is buying TRW Automotive Holdings, a major player in safety tech, as part of an approximately $12.4-billion cash deal based on equity value that is already approved by both companies' boards.
There was a big shakeup in the automotive supplier market late last week, as Germany's ZF, a company well regarded around these parts for its gearboxes, submitted a surprise preliminary offer to purchase Michigan-based TRW Automotive, a supplier of safety systems, suspension components, and so on.
Kemet Corporation, an electrical component manufacturer, has denied claims by Chrysler officials that it is responsible for a massive Jeep recall. On November 9, Chrysler announced it was recalling 920,000 Jeep vehicles after receiving more than 100 reports of unintended airbag deployments
With the over-65 population growing at a rapid rate (36.9 million in 2009 and set to hit 72.1 million by 2030), automakers are intent on making driving easier for the elderly. To that end, automotive supplier TRW is developing a folding steering wheel concept that retracts into the dashboard, allowing older drivers to get in and out with ease.
The fact is that small cars get into more accidents than large and mid-sized cars, and the fatality rates for small cars are about twice as high as their larger siblings. Yet it's the large – and usually expensive and luxurious – cars that get features like collision avoidance technology. That could change soon if TRW Automotive can get car makers to adopts its less expensive collision avoidance radar system.
When the the Detroit automakers' financial crisis started getting more media coverage a couple of months ago, a study was released by the Center for Automotive Research estimating that the possible collapse of the industry could ultimately cost up to 3 million US jobs. That estimate is based on the several hundred thousand direct jobs, plus the affected suppliers as well as businesses in the vicinity of automotive facilities. The repercussions of the recent sales collapse are already being felt
