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Wednesday, September 10, 2014

Auto parts maker TRW to sell engine valve business for $385 mln, (NYSE: TRW)

Auto parts maker TRW Automotive Holdings Corp said it would sell its engine valve business to Federal-Mogul Holdings Corp for $385 million. The sale of the business, which has annual sales of about $610 million, is expected to close in the first quarter of 2015, TRW said.

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 remained unchanged at $100.60. In the past year, the shares have traded as low as $68.72 and as high as $107.25. On average, 1643340 shares of TRW exchange hands on a given day and today's volume is recorded at 18427.