TROY, Mich., Sept 14, 2005 /PRNewswire via COMTEX News Network/ -- ArvinMeritor, Inc. (NYSE: ARM)
announced today that it plans to move the shock and strut portion of its
manufacturing operations from the Chickasha, Okla., U.S. facility to its plant
in Queretaro, Mexico.
The company met with employees today to discuss the transfer plans, which
will affect approximately 270 full-time and temporary Chickasha employees.
The transfer of this business and the reduction in workforce will begin in
September and conclude in November. "Transferring operations within our
business group improves our ability to compete," said Rob Malone, vice
president and general manager, Light Vehicle Aftermarket. "Current market
conditions require tough decisions."
ArvinMeritor announced in November 2004 that it planned to divest the
Light Vehicle Aftermarket business in a strategic move to focus its resources
on the global original equipment automotive and commercial truck markets. On
an investor call in July, Chairman, CEO and President Chip McClure commented,
"As we pursue potential opportunities for Light Vehicle Aftermarket, we will
continue to be aggressive in the actions we're taking to improve this
business." Regarding today's announcement, McClure said, "Although
unavoidable, we recognize the impact this will have on our Chickasha employees
and the community."
The company plans to maintain packaging, distribution, receiving, returns
processing, design engineering and rod manufacturing operations at the
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.
both of ArvinMeritor, Inc.