Reuters reported that TRW Automotive Holdings Corp, a US automotive supplier, sees sales in China more than doubling in two years and plans to build 5 new manufacturing plants or more in the country this year.
TRW revenue rose 24% in 2010 to more than USD 14 billion of which between USD 1 billion to USD 1.5 billion was from China.
Mr John Plant chairman, president and CEO said "In 2011, we will build 5 manufacturing plants and we will more than double sales in the next two years (in China)."
TRW which generated more than 90% of its revenue from auto safety equipment and exhibits for the first time at the Shanghai auto show with its braking, steering, seat belts and other systems. It has 14 manufacturing plants in China, the world largest auto market and is eager to build up market share in the country crowded with competitors including Autoliv Inc and Takata Corp.
Mr Plant said the new factories will boost the number of TRW manufacturing plants in the country to 19. He added that "In fact with our sales increase later this year, I expect we will exceed 20 by the end of the year."
TRW also planned to open a second new technical center in China in 2013 with more than 1,000 engineers.
The center would be built on the outskirts of Shanghai to supplement its existing Asia Pacific technical center in that city.
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