TRW Acquires Remainder Of Its Italian Automotive Pump Venture.

TRW said it has acquired 100 percent of TRW Marzocchi Automotive Pumps. Financial terms were not disclosed. The transaction concluded the joint venture begun in 1997 between TRW and Marzocchi Pompe of Bologna, Italy.

During its initial five years of operation, TRW Marzocchi Automotive Pumps, with 236 employees and $34.4 million in annual sales, has established itself as the world's leading producer of automotive gear pumps for application in electrically powered hydraulic steering systems (EPHS).

TRW Automotive will continue to operate the business as TRW Automotive Pumps.

TRW Automotive said it currently leads all automotive suppliers with more than $4.5 billion in electrically assisted steering systems sales and orders. These systems eliminate the need for the engine to provide mechanical power for the steering system, yielding significant cost and performance benefits.

The technologies accommodate the needs of manufacturers as they migrate vehicles from hydraulics, through semi-hydraulics to fully electric systems.

EPHS eliminates belts, pulleys and all direct connection with the engine, combining an advanced brushless motor, hydraulic power steering pump, electronic unit and reservoir into an easy to install unit. In addition, all electric steering systems offer enhanced fuel efficiency because they consume power only when steering assist is required.