TRW Automotive Holdings Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported sales of $4,213 million compared to $4,208 million a year ago. Operating income was $253 million compared to $331 million a year ago. Earnings before income taxes were $235 million compared to $308 million a year ago. Net earnings attributable to the company were $162 million or $1.29 diluted per share compared to $206 million or $1.59 diluted per share a year ago. Net cash used in operating activities was $178 million compared to $102 million a year ago. Capital expenditures, including other intangible assets were $104 million compared to $96 million a year ago. EBITDA was $359 million compared to $432 million a year ago. Adjusted EBITDA was $396 million compared to $439 million a year ago. Free cash outflow was $282 million compared to $198 million a year ago. Adjusted operating income was $290 million compared to $333 million a year ago. Adjusted earnings before income taxes were $272 million compared to $315 million a year ago. Adjusted net earnings attributable to the company were $189 million or $1.51 diluted per share compared to $211 million or $1.62 diluted per share a year ago. For the second quarter of 2013, the company expects sales to be approximately $4.3 billion. For the full year 2013, sales expected to range between $16.6 billion and $16.9 billion. The company anticipates 2013 will be another positive year of cash generation. The company still expects capital spending for the year to be in the range of $710 million to $740 million as it continue to build out infrastructure in strategic high-growth areas, such as China and in support of the continued expansion of newer technologies.

TRW Automotive Holdings Corp. recently held the opening ceremony of a new facility in Baia Mare, Romania. The plant is a steering wheel leather wrapping facility and currently employs around 300 people. Baia Mare started operations in January 2013 and it is planned that up to 650 employees will work at the plant by the end of 2013. TRW started operations in Romania in 2004 with steering wheel leather wrapping in Timisoara and has expanded its activities to cover die casting, foaming and airbag production. In addition to Timisoara and Baia Mare, TRW has three further sites in Oravita, Lupeni and Marghita employing a total of around 3,400 staff.

TRW Automotive Holdings Corp. has recently started production of its electrically powered steering (EPS) column drive technology with a major Chinese vehicle manufacturer (VM) and is due to launch with three further China domestic platforms in 2013. Production will be located at TRW's manufacturing facility in Anting, China. TRW offers two Electrically Powered Steering (EPS) solutions to cover the full vehicle platform range, which consume power to any significant degree only when steering assist is needed. The first is the column drive unit which is mounted on the steering column inside the passenger compartment and the second is belt drive where the assist is applied directly to the rack with a belt and ball nut mechanism. Significant fuel economy and CO(2) emissions benefits can be realized with both systems when compared with traditional hydraulic power steering. The technology can deliver a fuel saving of 0.3 to 0.4 L/100km, with a corresponding reduction in carbon dioxide emissions of approximately 7-8g/km (based on test data for a 1.6 litre gas engine).