22.06.2005 20:02:00
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TRW Automotive Joins AUTOSAR Partnership
LIVONIA, Mich., June 22 /PRNewswire-FirstCall/ -- TRW Automotive Holdings Corp. today announced its involvement in the Automotive Open Systems Architecture (AUTOSAR) development partnership. AUTOSAR is an alliance of original equipment manufacturers and tier one automotive suppliers including core members BMW, Bosch, Continental, DaimlerChrysler, Ford, General Motors, PSA, Siemens, Toyota and Volkswagen.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010824/TRWLOGO )
TRW has invested in the partnership to work with the partner companies to establish an open industry standard for automotive electrical and electronic (E/E) architecture. This standard will serve as a basic infrastructure for the management of functions within standard software modules and software interfaces. By allowing the integration and transfer of functions in future automotive applications, an automotive E/E standard should allow significant improvement in software updates and upgrades over the vehicle lifetime.
Andrew Kingston, engineering manager, TRW Automotive, commented, "The increasing complexity of automotive systems, which are dependent upon reliable electronics and software, is leading to the need for an industry standard which enables the successful management of automotive E/E architecture.
"As a world leading manufacturer of electrical and electronic safety systems, TRW is able to contribute extensive knowledge and experience to assist in the realization of the AUTOSAR industry standard. The contribution of Tier 1 suppliers is essential to the success of partnerships such as AUTOSAR and we are pleased to be involved in the project."
AUTOSAR foresees the completion of the test and verification phase of the proposed open industry standard by the end of 2006.
About TRW
With 2004 sales of $12.0 billion, TRW Automotive ranks among the world's top 10 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/ .
Forward-Looking Statements
This release contains statements that are not statements of historical fact, but instead are forward-looking statements. 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 the TRW Automotive Holdings Corp. Report on Form 10-K for the fiscal year ended December 31, 2004 (the "10K"), and our Report on Form 10-Q for the quarter ended April 1, 2005, and include: possible production cuts by our customers; escalating pricing pressures from our customers; severe inflationary pressures impacting the markets for ferrous metals 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.
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