NEW YORK (Standard&Poor's) Sept. 7, 2005--TRW Automotive Inc. (BB+/Stable/--) announced today that it entered into a definitive agreement to purchase a 68.4% interest in Dalphi Metal Espana S.A. (Dalphimetal) for about $137 million, plus the assumption of debt totaling about $103 million. This transaction will have no impact on TRW's ratings or outlook. Privately held Dalphimetal, a manufacturer of air bags and steering wheels, reported 2004 sales, primarily in Europe, of about $453 million. The addition of Dalphimetal bolsters TRW's presence in Europe and enhances its technological capabilities in the passive safety segment. The deal, which is expected to close within the next six months, will be financed with a combination of cash on hand and existing credit
