In February 2004, TRW Automotive Holdings Corp. (NYSE: TRW) became a public company through an Initial Public Offering ("IPO") of common stock. Affiliates of The Blackstone Group L.P., which held the majority of ownership in TRW Automotive Holdings Corp. as a result of the February 2003 acquisition, retained the majority stake of ownership in the company until June 2007. As the new TRW Automotive embarks on an exciting future, it does so from a deeply rooted heritage established by the automotive businesses formerly owned by TRW Inc. The former TRW automotive businesses grew and prospered by using advanced technologies, by creating products and services with maximum value, and by meeting customer needs. They and their predecessors developed a vast array of products for the fledgling auto industry. These included fasteners and cap screw technology that was eventually adapted to create the first two-piece engine valve, as well as wooden wheels for Henry Ford's Model T in North America, and lighting and other electrical products in Europe. From this early foundation, the automotive businesses grew and diversified, entering the brake field in 1928 in North America, and in 1932 in Europe. Another common denominator among the predecessor companies was their contributions to the respective war efforts in WW II and the Korean War. All the while, the company continued to make advancements in all of its chosen product lines, including work in developing hydraulic and power brakes, and in engine valve technologies. In the 1950's and 1960s, diversification was a common theme among North American industrial companies. TRW Inc. was no exception, becoming a major player in the aerospace and aircraft industries, primarily through Thompson Products, Inc.'s merger with the Ramo-Wooldridge Corporation in California. This merger resulted in Thompson-Ramo-Wooldridge Corporation - the genesis of the name TRW. Diversification was not limited to other industries. The auto business also branched into new product lines, entering the commercial steering business through a merger with Ross Gear and Tool Company, and the electronics field with the acquisition of United Carr (1965). A rapid succession of industry milestones marked the remainder of the 1960s, including the first disc braking system in North America, the development of rack and pinion steering (1967) and the first electronically-controlled anti-lock braking system (ABS). Technological advancements and expansion into new businesses continued in the 1970s and 1980s. In 1972, TRW entered the occupant restraints business with the acquisition of Repa in Germany, and that same year introduced power rack and pinion steering (and remains the world leader today). The first Collette caliper, the world's leading caliper design for disc brake applications, was introduced. The first two-wheel ABS system for light trucks was launched, and TRW developed the first remote keyless entry system. In 1989, TRW delivered the first complete frontal air bag and sensor system. In 1996, the growing occupant safety systems business was significantly strengthened with the acquisition of the air bag and steering wheel operations of Magna International, and TRW was an established leader for seat belts, air bags and steering wheels on both sides of the Atlantic. In May 1999, TRW completed its acquisition of LucasVarity plc. In the automotive markets, these newly acquired businesses positioned the company as a global leader in integrated vehicle control systems (which include steering, suspension, anti-lock brakes, traction control, and vehicle stability systems) and enhance the company's positions in occupant safety systems. As TRW Automotive Inc. enters the next millennium, it does so as the world's leader in automotive safety, producing one of the largest arrays of active and passive safety technologies. It continues to be at the forefront of developments in vehicle dynamics, driver assist systems, foundation brakes, inflatable restraints, seatbelt technologies and the electronics and software advancements that will enhance the safety, convenience and comfort of tomorrow's vehicles.