TRW Automotive Holdings Corp. will take advantage of its recently improved share price by selling 14m shares and reduce its debt.

Analysts say that TRW is relatively highly leveraged with US$7.8bn in total liabilities and US$1bn in equity.

J.P. Morgan, Goldman Sachs & Co. and BofA Merrill Lynch are managing the sale.

Jim Gillette, a supplier analyst with CSM Worldwide, told The Detroit News that TRW is 'doing the right thing'.

"The market is picking up, and we're seeing strong performance by the ones not filing for bankruptcy," Gillette said. "The best time to buy is when everything looks horrible," he said, adding that every downturn is an opportunity to consolidate, eliminate excess capacity and allow those that survive to restructure and rebuild.