USA: TRW completes buy of Spanish unit

By just-auto.com editorial team | 28 October 2005

TRW Automotive Holdings has completed the acquisition of a majority share of Dalphi Metal Espana (Dalphimetal), a European based manufacturer of airbags and steering wheels.

TRW purchased a 68.4% stake in Dalphimetal for approximately EUR112m, or US$134m, subject to post closing adjustments, plus the assumption of debt expected to total approximately EUR80m.

TRW will begin to report Dalphimetal as a consolidated entity in its fourth-quarter 2005 results, effective with the date of the acquisition.

But the supplier does not expect the consolidation of Dalphimetal's operating results, excluding the potential impact of purchase accounting adjustments, to have a material effect on its 2005 operating results.