TRW Raises $676 Million in Public Offering - aftermarketNews

TRW Raises $676 Million in Public Offering

TRW Automotive Holdings Corp., which was bought by private equity firm Blackstone Group LP for about $4.7 billion last year, has raised $676 million in an initial public offering. The Livonia, Mich.-based company sold 24.14 million shares of stock at $28 a share. The company had predicted it would sell the stock at between $28 and $30 a share.

From Detroit Free Press

LIVONIA, MI — TRW Automotive Holdings Corp., which was bought by private equity firm Blackstone Group LP for about $4.7 billion last year, has raised $676 million in an initial public offering.

The Livonia, Mich.-based company sold 24.14 million shares of stock at $28 a share. The company had predicted it would sell the stock at between $28 and $30 a share.

TRW Automotive, the No. 2 maker of air bags, used about half the proceeds of the offering to buy back shares from Blackstone, which bought the company from Northrop Grumman Corp. in a leveraged buyout, according to a filing with the Securities and Exchange Commission.

_______________________________________

Click here to view the rest of today’s headlines.

You May Also Like

Asahi Kasei Announces Future L-I Battery Separator Plant

The lithium-ion battery separator plant will be constructed in Port Colborne, in the Niagara region of Ontario, Canada.

Asahi-Kasei-Announces-Future-L-I-Battery-Separator-Plant

Asahi Kasei announced it will construct its previously announced integrated lithium-ion battery (LIB) separator plant in Port Colborne, which is in the Niagara region of Ontario, Canada. The new manufacturing facility will operate as Asahi Kasei Battery Separator Canada and is expected to create highly skilled, good-paying jobs in manufacturing and construction, according to the latest press information. The start of commercial production is currently slated for 2027.

ENNOVI Achieves EcoVadis Platinum Sustainability Rating

Earning the Platinum Medal for the fourth year ranks ENNOVI in the top 1% of companies for sustainability in 2023.

ENNOVI-Achieves-EcoVadis-Platinum-Sustainability-Rating
Rematec Updates Floor Plan for Amsterdam 2025

The event will highlight innovation and sustainability in the automotive aftermarket, focusing on connected vehicles and remanufacturing advancements.

Remantec-Amsterdam-education
NexaMotion Group Announces New Location in Florida

Through the new Tampa, FL, facility, Transtar will offer an extended product catalog for foreign and domestic applications.

NexaMotion-Group-Expands-Product-Offering-in-Texas
MEMA Aftermarket Suppliers Launches Council of Remanufacturing Excellence

CoRE brings together the expanded resources of MEMA Aftermarket Suppliers and two peer group councils: Remanufacturing Business Council and Remanufacturing Technology & Operations Council.

MEMA Aftermarket Suppliers Announces Reman Roadshow, Annual Conference

Other Posts

PRT Launches 59 New Complete Strut Assemblies

Extending PRT’s product portfolio in North America, the new release represents nearly 12M vehicles in new coverage.

PRT-Launches-59-New-Complete-Strut-Assemblies
SMP Releases 2023 Corporate Sustainability Report

The report provides insight into the company’s initiatives, future goals and achievements, Standard Motor Products said.

SMP-Releases-2023-Corporate-Sustainability-Report
Mullen Continues Commercial EV Dealer Expansion in Midwest

New franchise partners Ziegler Truck Group and Range Truck Group will focus on the Pacific Northwest and upper Midwest regions of the U.S.

Mullen-Continues-Commercial-EV-Dealer-Expansion-in-Midwest
Aftermarket Data Standards – Beyond ACES

To remain relevant and valuable, the industry standards will continue to evolve and grow. They will never be finished, Scott Luckett affirmed.

Aftermarket-Data-Standards-–-Beyond-ACES