TRW to Buy Chilton for $360 Million

TRW Inc. said Monday that it has reached an agreement to buy Chilton Corp. from Borg-Warner Corp. for about $360 million.

Chilton operates consumer credit reporting, accounts receivable management and related businesses. Chilton, headquartered in Dallas, is a wholly owned subsidiary of Borg-Warner, based in Chicago.

Chilton will become a part of TRW Information Systems Group, which provides information and information processing assistance to the financial services industry. TRW Information Systems is located in Long Beach.

“Chilton has an excellent reputation. Combining its resources with those of TRW will provide consumers and the consumer information market with better and more efficient service,” said Richard D. C. Whilden, TRW executive vice president and general manager of TRW Information Systems Group.

Chilton President Van Smith said the combination enhances the companies’ ability to provide new products and services.

Borg-Warner’s products and services include automotive components, chemicals and plastics, and protective services. TRW, which is based in Cleveland, provides high-technology products and services for the space and defense, automotive and information systems markets.