TRW Automotive Inc. said today it has signed a joint-venture agreement with ArvinMeritor Inc. to distribute shock absorbers under the Gabriel and TRW brands to the European aftermarket.
The joint venture will begin operation and distribution by January 2008. The joint venture is 51 percent owned by TRW and 49 percent owned by ArvinMeritor.
Sales, marketing and distribution of the shock absorbers under the Gabriel and TRW brands will be managed jointly by the two companies.
TRW Automotive, of suburban Detroit, supplies steering, suspension, brake and engine components, fasteners and occupant restrain systems. It ranks No. 10 on the Automotive News list of the top 100 global suppliers with original equipment parts sales of $12.16 billion in fiscal 2006.
ArvinMeritor, of Troy, Mich., ranks No. 19 on the Automotive News list of the top 100 global auto suppliers with original equipment sales of $8.52 billion in fiscal 2006. The company supplies axles, brakes, aperture systems, drivelines, wheels and chassis systems.
Brent Snavely of Crain's Detroit Business contributed to this story