LIVONIA, Mich., March 7, 2013 /PRNewswire/ -- TRW Automotive Holdings Corp. (NYSE: TRW) has been recognized by the Chrysler Group LLC's Innovation group with a 2012 Innovation Award for User Experience and Driver Assistance in the development of Lane Centering Assist systems.
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The award is in recognition of a 2012 "Decoupled Development" project and TRW was recognized as one of the top supplier partnership projects at Chrysler's inaugural Supplier Innovation Awards Ceremony on March 1. The event was initiated to recognize those suppliers that have exhibited exceptional performance in their collaborative efforts toward innovation project results.
"TRW is honored to accept this award and particularly pleased to be one of only 13 supplier partners to be selected," said Ken Kaiser, Vice President, TRW Global Electronics Engineering. "We will continue our focus on the development of affordable advanced safety systems to benefit the driving public and look forward to working with our Chrysler colleagues on further innovation collaborations in future."
TRW's Lane Centering Assist is an integrated system that utilizes a forward-facing camera and electrically powered steering system – the camera detects the lane markings, calculates the virtual lane center-line and sends torque commands continuously to the electric steering system to help keep the vehicle centered in the lane automatically.
With 2012 sales of $16.4 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 25 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, 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 www.trw.com.
This release contains statements that are not statements of historical fact, but instead are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We caution readers not to place undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements are subject to numerous assumptions, risks and uncertainties which could cause our actual results to differ materially from those suggested by the forward-looking statements, including those set forth in our Report on Form 10-K for the fiscal year ended December 31, 2012 (our "Form 10-K"), such as: any developments related to antitrust investigations adversely affecting our financial condition, results, cash flows or reputation; economic conditions adversely affecting our business, results or the viability of our supply base; the unsuccessful implementation of our current expansion efforts adversely impacting our business or results; any shortage of supplies causing a production disruption for any customers or us; strengthening of the U.S. dollar and other foreign currency exchange rate fluctuations impacting our results; risks associated with non-U.S. operations, including economic and political uncertainty in some regions, adversely affecting our business, results or financial condition; any inability to protect our intellectual property rights adversely affecting our business or our competitive position; the loss of any of our largest customers materially adversely affecting us; commodity inflationary pressures adversely affecting our profitability or supply base; pricing pressures from our customers adversely affecting our profitability; costs of product liability, warranty and recall claims and efforts by customers to adversely alter contract terms and conditions concerning warranty and recall participation; costs or adverse effects on our business, reputation and results from governmental regulations; costs or liabilities relating to environmental, health and safety regulations adversely affecting our resultswork stoppages or other labor issues at our facilities or at the facilities of our customers or those in our supply chain adversely affecting our business or results; any disruption in our information technology systems adversely impacting our business and operations; and other risks and uncertainties set forth in our Form 10-K and in our other filings with the U.S. Securities and Exchange Commission. We do not undertake any obligation to release publicly any update or revision to any of the forward-looking statements.
SOURCE TRW Automotive Holdings Corp.