TRW Upbeat About Deal

TRW Automotive CEO John Plant is optimistic that jobs will be added rather than cut now that private equity firm The Blackstone Group has agreed to purchase the unit for $4.7 billion. The deal is pending shareholder approval.

In July, Northrop Grumman Corp. agreed to purchase TRW Automotive parent TRW Inc. for $7.8 billion plus an assumption of $5 billion in debt. Northrop Grumman said at the time it would either sell or spin off TRW Automotive into an independent company.