Do we know how AF1-3 has fared after the carve-out?
I.e if AF1-3 are doing just as good now as in the past, then TRW should be able to solve the issues (they might still struggle to fix AF4, but at least they should know better what to do and NOT to do for future projects)
If AF1-3 are performing no better then AF4, then much of the growth story is lost (although there should still be a heavy upside from the current PPS from TRWs current EPS with the flaws at AF4)
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