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ArvinMeritor Announces Sale of Coil Coating Business to Willis Stein & Partners

TROY, Mich., Nov 24, 2004 /PRNewswire-FirstCall via COMTEX/ -- ArvinMeritor, Inc. (NYSE: ARM) announced today that it has sold Roll Coater, Inc., a wholly owned subsidiary, to an affiliate of Willis Stein & Partners. The cash purchase price of the stock transaction is approximately $162.5 million. National City acted as the financial advisor to ArvinMeritor for this transaction.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )

Roll Coater is a leader in the coil coating industry, and supplies a variety of markets, including automotive, appliance, heating and air conditioning, transportation, construction, roofing, and consumer products. The company will remain headquartered in Indianapolis, Ind., with state-of- the-art facilities in Greenfield, Ind.; Kingsbury, Ind.; Hawesville, Ky.; and Weirton, W.Va.

"This divestiture gives Roll Coater and its employees an opportunity to prosper, while allowing ArvinMeritor to focus on its core competencies in the global automotive and heavy truck markets," said Charles G. "Chip" McClure, ArvinMeritor chairman, CEO and president.

"We are very excited to acquire Roll Coater, with its leading position and growing stable of blue chip customers," said Daniel H. Blumenthal, managing director, Willis Stein & Partners. "We look forward to working closely with Roll Coater's outstanding management team to continue to grow the business organically and through acquisitions."

"I'm thrilled about Roll Coater's future and what this means for our valued customers and employees," said Bob O'Neal, CEO of Roll Coater. "We are very eager to move forward with our new ownership structure in place. With this announcement, Roll Coater is well positioned to build on a solid base by investing more to expand the company's manufacturing capabilities. Roll Coater will continue to deliver top-quality products to fit the ever-changing needs of our customers, as well as pursue other opportunities that will enable us to even further exceed market expectations."

Willis Stein & Partners is a leading private equity firm that focuses on investments in profitable, well-managed and growing businesses. The principals of Willis Stein have made investments in 47 companies and manage approximately $3 billion in equity capital. For more information, please visit http://www.willisstein.com .

ArvinMeritor, Inc. is a premier $8 billion 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 related aftermarkets. Headquartered in Troy, Mich., ArvinMeritor employs approximately 32,000 people at more than 150 manufacturing facilities in 27 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 .

SOURCE ArvinMeritor, Inc.

CONTACT:
Media Inquiries:
Krista McClure
+1-248-435-7115
krista.mcclure@arvinmeritor.com
Investor Inquiries:
Alice McGuire
+1-248-655-2159
alice.mcguire@arvinmeritor.com
both of ArvinMeritor, Inc.
Media Inquiries:
Joe Lobello
Brainerd Communicators, Inc.
+1-212-986-6667
lobello@braincomm.com
for Willis Stein & Partners

http://www.arvinmeritor.com

 
 
 
 
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