Offers Advanced Product Design & Development, Computer-Aided Engineering and Benchmarking and Testing Capabilities
BANGALORE, India, Sept. 24 /PRNewswire-FirstCall/ -- At an event held today in Bangalore, India, ArvinMeritor (NYSE: ARM) officially opened a new technical center which will lead the company's advanced product development initiatives for its broad portfolio of axles and brakes for commercial and other vehicle applications in Asia Pacific, and will support the company's engineering needs in North America, South America and Europe.
"Growth in Asia Pacific, particularly India and China, is a key component of our business strategy," said Tim Bowes, ArvinMeritor's vice president and managing director for Asia Pacific. "To support the growth we have planned in this region, we identified the need to increase the size of our engineering footprint in India - which was established more than ten years ago. This new engineering center accelerates our ability to provide advanced product solutions for on- and off-highway, bus and coach, military and other industrial applications."
The company hosted customers and suppliers today - including guest speakers Baba Kalyani, chairman and managing director, Bharat Forge Limited, and Kevin Thieneman, India Country Manager, Caterpillar Asia - at a grand opening ceremony that included a tour of the facility which highlighted the center's engineering capabilities, specifically:
-- Product Design and Development including design optimization and value
-- Computer-Aided Engineering (CAE) including finite element modeling and
-- Benchmarking and Testing area that will house dynamometer rigs for axles
and brakes, road load data acquisition and hydraulic rigs for vertical
fatigue and side skid
The Bangalore Technical Center occupies approximately 16,000 sq. ft. of office space, with an additional 4000 sq. ft. dedicated to a test lab. Approximately 100 employees will be employed at the facility, which will be a critical element in the company's global engineering network that also includes R&D labs in Troy, U.S.; Cameri, Italy; and Cwmbran, U.K.
ArvinMeritor, Inc. is a premier global supplier of a broad range of integrated systems, modules and components to original equipment manufacturers and the aftermarket for the transportation and industrial sectors. The company marks its centennial anniversary in 2009, celebrating a long history of 'forward thinking.' The company serves commercial truck, trailer and specialty original equipment manufacturers and certain aftermarkets, and light vehicle manufacturers. 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.
Forward Looking Statements
This press release contains statements 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. There are risks and uncertainties associated with the partnership with Yutong, including the volume of business that will be generated and the demand for the product to be supplied. In addition, 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, including the recent global economic crisis; whether our liquidity will continue to be affected by declining vehicle production volumes in the future; the financial condition of the company's suppliers and customers, including bankruptcies and potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; 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 demand for commercial, specialty and light vehicles for which the company supplies products; timing and certainty as to completion and terms of any dispositions of the Body Systems and Chassis businesses of ArvinMeritor's LVS business; 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 sharply rising 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; 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 outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; the outcome of actual and potential 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 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.
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