AEROSPACE

TRW Won’t Sell Defense Unit, Chairman Says: The company doesn’t intend to sell its Redondo Beach-based space and defense unit and is actively seeking acquisitions to increase the size of that business, CEO Joseph Gorman said at the Cleveland-based company’s annual meeting. TRW Inc. will make up in the remainder of the year “some, but not all,” of the 7 cents to 10 cents a share in earnings it lost in the first quarter due to a General Motors Corp. strike, Gorman said. Analysts have speculated recently that TRW might try to sell its space and defense business amid an industry consolidation spurred by a reduction of defense contracts. But Gorman said that won’t happen, because the company has gained a larger share of available contracts and its business is growing.