ITALY: TRW acquires TRW Marzocchi automotive pumps
TRW has acquired 100 percent of TRW Marzocchi Automotive Pumps, but financial terms were not disclosed. The transaction concluded the joint venture begun in 1997 between TRW and Marzocchi Pompe of Bologna.
TRW Marzocchi Automotive Pumps is a producer of automotive gear pumps for application in electrically powered hydraulic steering systems (EPHS). It has 236 employees and has around $34.4 million in annual sales.
TRW Automotive will continue to operate the business as TRW Automotive Pumps.
TRW Automotive says that it currently leads all Automotive suppliers with sales and orders for more than $4.5 billion sales in electrically assisted steering systems.