OTHER NEWS - Oct. 16, 1996

TRW to Buy Steering Wheel-Air Bag Unit: The Cleveland-based company said it agreed to buy the steering wheel and air bag business of Long Island, N.Y.-based Izumi Corp. for an undisclosed price. The acquisition allows TRW to offer auto makers one occupant restraint unit, which lowers costs by reducing the number of supplier transactions. Currently, auto makers buy steering wheels from different suppliers than air bags and must match trim, paint color and other details to the steering wheel. TRW also said it will slash 2,300 jobs and close and reconfigure several plants. To pay for the changes, TRW posted a third-quarter charge of $233.4 million, or $3.58 a share. TRW shares fell $1.50 to $91.125 on the NYSE.