SALONTA, Romania, Jan. 31 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) announced today the start of production at a new Light Vehicle
Systems (LVS) facility in Salonta, Romania.
This new plant, which occupies approximately 5,400 square meters of
manufacturing space, will supply window regulators, cables, latches and
actuators directly to Dacia, the largest vehicle manufacturer in Romania and
part of the Renault Nissan group.
"This new facility in Salonta represents a significant further investment
by ArvinMeritor in Central Europe, and is in line with our targets on driving
manufacturing in leading cost competitive countries wherever viable," said
Aziz Aghili, vice president and general manager of the company's Body Systems
group. "By locating our production directly in Romania we can minimize our
operating costs, be exceptionally responsive to our local customer and create
over 100 new jobs in the area."
ArvinMeritor began producing components and systems in Central and Eastern
Europe in 1992, with the opening of a door systems operation in Liberec, Czech
Republic. The company's Romania facility represents the sixth operation to be
established in this region.
About Light Vehicle Systems
ArvinMeritor's LVS business group is a market leader in the product
categories it serves, supplying integrated systems and modules to the world's
leading passenger car and light truck OEMs. Through smart systems(TM)
technologies, the intelligent application of controls and electronics,
ArvinMeritor's traditional mechanical products are taking on new form and
function at both the component and system levels. With advanced technology
and systems design expertise in body systems, chassis and wheels, LVS
integrates high-quality components into cost-effective, performance-based
solutions for virtually every car and light truck on the road today.
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 commercial truck, trailer and specialty original equipment
manufacturers and certain aftermarkets, and light vehicle manufacturers.
Headquartered in Troy, Mich., ArvinMeritor employs approximately 18,000 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: http://www.arvinmeritor.com/.
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 and oil; 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; potential impairment of long-lived assets,
including goodwill; potential adjustment of the value of deferred tax assets;
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; product liability and warranty and recall claims;
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 herein and from
time to time in other 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 - Europe, Marco Foley, +44 (0)121 625 3220,
firstname.lastname@example.org, or Malte Raddatz, +49 (0) 1753-683001,
email@example.com; or Media - U.S., Kim Adler, +1-248-435-1981,
firstname.lastname@example.org; or Investors, Terry Huch, +1-248-435-9426,
email@example.com, all of ArvinMeritor, Inc.
Web site: http://www.arvinmeritor.com