TRW Forms Alliance With Summit Electronic Components To Market Automotive Products In Thailand
12 November 1997
TRW Forms Alliance With Summit Electronic Components To Market Automotive Products In Thailand
CLEVELAND, Nov. 12 -- TRW Inc., Cleveland, Ohio, and Summit
Electronic Components Co., Ltd., Samutprakarn, Thailand, today announced they
have formed a business alliance for joint marketing of electronic products for
the Thai automotive market and future local production in an equity joint
venture. TRW will have a majority interest in the joint venture.
The alliance will position TRW to supply the General Motors assembly plant
being constructed in Thailand to manufacture the Opel Astra starting in 1999.
TRW has been awarded several switch and electronic component contracts for the
vehicle. The agreement also lays the foundation for TRW to produce components
and systems for other automakers in Thailand and the rest of Southeast Asia.
Summit Electronic Components manufactures precision electromechanical
devices and electronic modules for consumer electronic products and car audio
systems. It is affiliated with the Summit Auto Group and Thai Summit Group,
leading automotive suppliers in Thailand whose products range from seats,
shock absorbers and exhaust systems to wiring harnesses, chassis frames and
starter motors.
"We foresee long-term growth in the automotive markets in Thailand and the
rest of Southeast Asia, despite the recent economic downturn," said Ronald D.
Sugar, executive vice president and general manager of TRW Automotive
Electronics Group. "Our alliance with Summit Electronic Components gives us a
solid foothold in the Thai automotive electronics market while positioning us
to meet the near-term needs of our customers for local production. We are
delighted to form this agreement."
"It is a pleasure to be part of the growing automotive electronics
business with a global partner like TRW," said Suriya Jungrungreangkit,
president of Summit Electronic Components Co., Ltd. "Through this alliance we
will be able to diversify our product portfolio and better serve our customers
with leading-edge automotive technology."
TRW Inc. is a US $10-billion company providing advanced-
technology products and services for the automotive, space and defense, and
systems integration markets. It employs 68,000 people in 26 countries. With
global automotive sales of US $6.5 billion in 1996, TRW is one of the largest
independent automotive suppliers in the world. Its automotive product lines
include electronic safety, security and convenience systems; electrical and
electronic switches and controls; air bag and seat belt systems; steering and
suspension systems; engine components; and fastening systems.
Other TRW automotive businesses in Thailand are TRW Steering & Suspension
Co., Ltd. in Rayong Province, which supplies linkage and suspension
components, and TRW Fuji Serina Co., Ltd. in Bangkok, which produces engine
valves.
TRW news releases are available on the Internet through TRW's corporate
web site (http://www.trw.com).
SOURCE TRW