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Saturday, July 19, 2014

Car parts firm ZF Friedrichshafen needs U.S. peer TRW's tech know-how - paper, (NYSE: TRW)

German car parts supplier ZF Friedrichshafen believes buying U.S peer TRW Automotive Holdings Corp would give it a better foothold in the market for self-driving and connected cars, its finance chief told a German paper. Privately-held ZF Friedrichshafen said earlier this month it was in early stage talks with TRW, which makes airbags, electronics, and braking and steering equipment.CFO Konstantin Sauer said ZF Friedrichshafen was well placed in the areas of powertrains and chassis, but that other areas were growing in importance, highlighting internet-enabled devices and autonomous driving."TRW, with its years of market expertise, technology and products would be the perfect complement," Sauer was quoted as saying in an interview with Boersen-Zeitung on Saturday.Rival German car parts supplier Robert Bosch is also investing heavily in such new technologies.

TRW Automotive Holdings Corp. (TRW Automotive) is a supplier of automotive systems, modules and components to global automotive original equipment manufacturers (OEMs) and related aftermarkets. Shares of TRW traded higher by 0.85% or $0.87/share to $103.51. In the past year, the shares have traded as low as $68.09 and as high as $106.87. On average, 1242820 shares of TRW exchange hands on a given day and today's volume is recorded at 2766833.