TRW Sells Engine Valve Business to Federal-Mogul

TRW Automotive Holdings Corp. has finalized the sale of its wholly owned engine valve subsidiaries to Federal-Mogul Holdings Corp.

The two Detroit-area companies announced the $385 million cash deal last September. The sale does not include TRW's joint valve making ventures except for one in Venezuela.

TRW's valve operations generate about $610 million in revenue per year. The company says it sold the business to focus on its expanding safety systems operations.