ArvinMeritor Partners with China's Fastest Growing OEM
SHANGHAI, China, July 24 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) and Chery announced today that the parties have entered into a
joint venture partnership to design and manufacture chassis systems and
components. The new joint venture, ArvinMeritor Chassis Systems Wuhu Co., will
evolve to a $150-million full-systems chassis supplier by 2010. Production of
shocks and struts will begin as early as 2008.
"ArvinMeritor's alliance with Chery is a great example of the company
attaining strategic growth from three key focus areas; increasing business
with Asian customers, expanding in emerging markets, and growing our light
vehicle chassis business," said Phil Martens, president of ArvinMeritor's
Light Vehicle Systems business group. "This new business, which is quickly
ramping up, comes on the heels of several other new Chery contracts with
ArvinMeritor for its door systems technologies. We're honored that Chery
continues to choose us as its technology partner," continued Martens. "We see
these contracts as the first steps of many long-term opportunities for both
"As the automotive footprint continues to evolve, ArvinMeritor is well
positioned to participate in Asia's explosive growth through its global
partnerships and manufacturing network, including today's announcement with
Chery," said Rakesh Sachdev, president of ArvinMeritor's Asia Pacific
operation. "The new chassis systems joint venture plant in Wuhu will be one of
several China-based facilities ArvinMeritor is adding to its network over the
next 18 months in support of new business with customers in the region."
ArvinMeritor, Inc. is a premier global supplier of a broad range of
integrated systems, modules and components to the motor vehicle industry. The
company serves light vehicle, commercial truck, trailer and specialty original
equipment manufacturers and certain aftermarkets. Headquartered in Troy,
Mich., ArvinMeritor employs approximately 19,000 people in 24 countries.
ArvinMeritor common stock is traded on the New York Stock Exchange under the
ticker symbol ARM. For more information, visit the company's Web site at:
SOURCE ArvinMeritor, Inc.
CONTACT: media, Colleen Hanley, ArvinMeritor, +1-248-435-1587, or
firstname.lastname@example.org; or Henry Zhuang, +86-21-2411-0022, or
email@example.com, or investors, Terry Huch of ArvinMeritor, +1-248-
435-9426, or firstname.lastname@example.org
Web site: http://www.arvinmeritor.com