TROY, Mich., Nov. 7 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) today announced it will open a new Commercial Vehicle Systems
(CVS) facility in Monterrey, Mexico. This new facility - which will include
approximately 400,000 square feet of manufacturing and office space - will
provide additional capacity for the company's axle and brake assembly
operations and component manufacturing.
"We are looking forward to beginning construction of this new facility,"
said Carsten Reinhardt, president of CVS for ArvinMeritor. This investment
demonstrates our commitment to being a leading supplier in the North American
truck industry." Start of production is scheduled for May 2008.
Reinhardt added, "We have worked closely with government officials in the
state of Nuevo Leon to expeditiously plan and launch this facility so that we
are operational prior to the anticipated upturn in the North American
Alejandro Paez Aragon, Secretary of Economic Development, said, "We are
very pleased that ArvinMeritor has selected the state of Nuevo Leon for their
new facility in Mexico. This action continues to demonstrate that Mexico, in
general, and particularly, the State of Nuevo Leon, is a strong competitor for
new operations as automotive and truck manufacturers - and their suppliers -
expand their operations in North America."
ArvinMeritor's additional operations in Mexico include:
- Wheels facility in San Luis Potosi, Mexico
- Roof and door module facility in Puebla, Mexico
- Ride Control Aftermarket facility in Queretaro, Mexico
- Commercial vehicle aftermarket warehouse in Escobedo, Mexico
- Sistemas Automotrices de Mexico joint venture in Monterrey, Mexico,
which manufactures axles, brakes and drivelines for the North American
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 25 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:
This press release contains statements relating to future results of the
company (including certain projections and business trends) that are "forward-
looking statements" as defined in the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are typically identified by words or
phrases such as "believe," "expect," "anticipate," "estimate," "should," "are
likely to be," "will" and similar expressions. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties, including but not limited to global economic and market cycles
and conditions; the demand for commercial, specialty and light vehicles for
which the company supplies products; risks inherent in operating abroad
(including foreign currency exchange rates and potential disruption of
production and supply due to terrorist attacks or acts of aggression);
availability and cost of raw materials, including steel; OEM program delays;
demand for and market acceptance of new and existing products; successful
development of new products; reliance on major OEM customers; labor relations
of the company, its suppliers and customers, including potential disruptions
in supply of parts to our facilities or demand for our products due to work
stoppages; the financial condition of the company's suppliers and customers,
including potential bankruptcies; possible adverse effects of any future
suspension of normal trade credit terms by our suppliers; potential
difficulties competing with companies that have avoided their existing
contracts in bankruptcy and reorganization proceedings; successful integration
of acquired or merged businesses; the ability to achieve the expected annual
savings and synergies from past and future business combinations and the
ability to achieve the expected benefits of restructuring actions; success and
timing of potential divestitures; impairment of long-lived assets, including
goodwill; competitive product and pricing pressures; the amount of the
company's debt; the ability of the company to continue to comply with
covenants in its financing agreements; the ability of the company to access
capital markets; credit ratings of the company's debt; the outcome of existing
and any future legal proceedings, including any litigation with respect to
environmental or asbestos-related matters; rising costs of pension and other
post-retirement benefits and possible changes in pension and other accounting
rules; as well as other risks and uncertainties, including but not limited to
those detailed from time to time in filings of the company with the SEC.
These forward-looking statements are made only as of the date hereof, and the
company undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or
otherwise, except as otherwise required by law.
SOURCE ArvinMeritor, Inc.
CONTACT: Media, Krista McClure, +1-248-435-7115,
email@example.com, or Investors, Terry Huch, +1-248-435-9426,
firstname.lastname@example.org, both of ArvinMeritor, Inc.
Web site: http://www.arvinmeritor.com