TRW and Linamar Agree To Form A Joint Venture

25 March 1999

TRW and Linamar Agree To Form A Joint Venture To Supply Cylinder Head Modules

    CLEVELAND--March 24, 1999--TRW Inc. and Linamar Corporation today signed a letter of intent to form a joint venture to supply machined and assembled engine components and modules, including the cylinder head, crankcase, crankshaft, camshaft, and connecting rod. The 50/50 joint venture will be located in Guelph, Ontario, Canada near Toronto. Terms of the agreement were not disclosed.
    "By combining the global strength of TRW's engine components business with Linamar's global expertise in machining and assembly," says Bernd Blankenstein, vice president, engine components, "we plan to become a leader in the supply of fully assembled cylinder heads."
    According to Linamar Chief Operating Officer Linda Hasenfratz, "We are excited about growing this business with TRW to offer our global customers alternatives which will reduce the cost and time it takes to manufacture the `5Cs.'"
    Linamar Corporation is a global manufacturer of precision- machined components, assemblies and castings primarily for the automotive industry. The company, with 1998 sales of nearly $1 billion and about 7,500 employees, is headquartered in Guelph, Ontario, Canada and operates 28 plants in Canada, Hungary, Mexico, and the US. Linamar is listed on the Toronto Stock Exchange (TSE:LNR).
    With 21 engine valve plants in 12 countries, TRW has engineering centers in Germany, North America, and the Asia Pacific region to focus on developing new lightweight valve train materials and products, and working with engine builders to solve problems and enhance performance.
    TRW is a U.S.-based company with headquarters in Cleveland, Ohio, and sales of nearly $12 billion. The company, which employs approximately 80,000 people in 31 countries, provides advanced-technology products and services for the automotive, space, defense, and information technology markets. TRW is one of the largest independent automotive component suppliers in the world with $7 billion in worldwide automotive sales. Its automotive product lines include engine valves, occupant restraint systems; electronic security and convenience systems; steering and suspension systems; switch and control systems; and engineered fasteners.
    TRW news releases are available on the Internet through TRW's corporate Web site (http://www.trw.com).