Remains committed to the Euclid brand
TROY, Mich., Sept 06, 2005 /PRNewswire via COMTEX/ -- ArvinMeritor, Inc. (NYSE: ARM) has
announced its decision, through a letter of intent, to close its Mayfield
Village (suburb of Cleveland), Ohio, commercial vehicle aftermarket
distribution facility to streamline its North American parts distribution
system. The closure is anticipated to be completed by June 2006.
All 79 of the facility's employees will be offered positions in the
company's main parts distribution warehouse in Florence, Ky.
The 200,000 sq. ft. facility joined the ArvinMeritor family when the
company acquired Euclid Industries in 1998 to broaden its aftermarket product
and brand offerings. The Euclid parts brand -- highly-recognized by its
yellow logo and packaging -- maintains one of the industry's strongest
reputations for being the 'most trusted name in truck parts.'
"To remain the number one commercial truck-trailer parts supplier, we had
to make this tough consolidation decision," stated Joe Mejaly, vice president
and general manager of the company's Commercial Vehicle Aftermarket business.
"Our first focus is our workforce at the Cleveland warehouse, who will be
offered the opportunity to stay with the company, and second is to support and
bolster our strong Euclid parts brand. Euclid is and will remain a mainstay
of our aftermarket offerings, as we proudly serve thousands of loyal
Mejaly emphasized that the facility's closure will not impact the delivery
of parts to its customers. "Neither our customers nor our entire dedicated
workforce will accept one ounce of degradation in our customers' order
fulfillment," he added.
During the next ten months, the company will begin transferring warehouse
and operations processes to maintain the strong customer support.
The company also operates aftermarket facilities in Florence and
Plainfield, Ind.; along with Mexico, Australia, Brazil, Canada and Europe.
ArvinMeritor's Commercial Vehicle Systems (CVS) business group posted more
than $3.2 billion in sales during fiscal year 2004, and employs more than
8,500 people at 65 facilities in 19 countries. CVS is one of the industry
leaders in supplying technologically advanced axle-braking and suspension
systems solutions as original equipment for medium- and heavy-duty trucks,
trailers, buses, coaches and specialty vehicles worldwide.
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 31,000 people
at more than 120 manufacturing facilities 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:
SOURCE ArvinMeritor, Inc.
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