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Wednesday, 18 December 2013 10:05

Auto supplier plans to close Michigan braking plant

SAGINAW, Mich. (AP) - Supplier TRW Automotive plans to close a braking facility early next year in Saginaw, affecting about 600 jobs. The Livonia, Mich.-based company said Tuesday that the plant will close in mid-February. It says in a statement that it had been unsuccessful in gaining new business. Company officials say they will provide assistance to employees subject to talks with the hourly workers' union. TRW Automotive supplies automotive parts ranging from airbags to braking systems. TRW Automotive Holdings Corp.'s third-quarter net income rose 21 percent to $197 million, helped by higher demand for the supplier's safety systems and increasing auto production in the U.S. and China.