TRW to buy back shares worth $1 bln

Mon Oct 1, 2012 7:22am EDT

Oct 1 (Reuters) - Automotive parts supplier TRW Automotive Holdings Corp said it will buy back shares worth up to $1 billion.

The repurchase program will start in the fourth quarter of this year and is expected to be executed over two years, the company said in a statement.

TRW was valued at $5.33 billion as of Friday closing.

The company's shares, which have gained about 50 percent since last December, closed at $43.71 on the New York Stock Exchange on Friday.