TRW Sells Suspension Parts Unit to Japan’s THK

TRW Automotive Inc. has agreed to sell its linkage and suspension components business to Tokyo-based THK Co. for $400 million.

The unit, which makes ball joints, control arms and tie rods, generates annual sales of about $550 million. The deal removes a business that overlaps with those of ZF Friedrichshafen AG, which is finalizing its $13.5 billion acquisition of TRW.

TRW's deal follows ZF's agreement last September to sell its 50% stake in a steering-system venture with Robert Bosch GmbH to avoid antitrust concerns.

TRW expects to complete its divestiture this autumn.