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TRW to buy back shares worth $1 bln

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.

(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Sreejiraj Eluvangal)

((sagarika.jaisinghani@thomsonreuters.com)(within U.S. +1 646 223 8780, outside U.S. +91 80 4135 5800)(Reuters Messaging: sagarika.jaisinghani.reuters.com@reuters.net))

Keywords: TRWAUTOMOTIVE SHAREBUYBACK/