YOKOHAMA, Japan TRW Automotive Inc. today opened a technology and engineering center here, saying it plans to double its sales to Japanese automakers to about $2 billion a year.
CEO John Plant said TRW spent more than ¥30 billion ($266.1 million) to build the three-story, 54,000-square-foot center here, just south of Tokyo. He expects the engineering center, which will employ 130 people, to help TRW sell more parts to Japans growing auto industry, at home and abroad.
The majority of the additional business we see will be outside of Japan in terms of production and sales, Plant said while opening the plant. But its important to recognize that engineering, the support structures, the testing and commercial management are led from Japan.
TRW books nearly $1 billion in annual sales with Japanese automakers and aims to double that through investments such as the Yokohama center, Plant said.
He declined to say how long it would take to double sales.
Sales to Japanese customers account for about 8 percent of TRWs $13.1 billion in total annual revenue. The company counts Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. among its biggest customers in Japan.
The center will focus on engineering and testing of safety features, such as seat belts and airbags. It also will work on brake and steering systems.
TRW, of suburban Detroit, ranks No. 10 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $12.16 billion in fiscal 2006.