TRW Spins Out

REDONDO BEACH, Calif. -- TRW (NYSE:TRW) announced today the creation of Velocium, a new company that will provide very high-speed indium phosphide (InP) and gallium arsenide (GaAs) components and other products for fiber optic and wireless telecommunications systems.

"TRW has invested more than $300 million to bring its advanced semiconductor capabilities to the commercial markets, and we've committed an additional $70 million this year for InP manufacturing capacity expansion and product development. Establishing Velocium as a separate business leverages this investment by enabling an intense focus on these rapidly growing markets," said Tim Hannemann, president and chief executive officer, TRW Space & Electronics. "Velocium launches operations with a strong management team led by Dr. Dwight Streit as president. Streit has led TRW's successful business growth in advanced semiconductors for the past six years."

TRW Inc.

Velocium