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ArvinMeritor Announces Sale of Off-Highway Brake Assets

TROY, Mich., Oct 06, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- ArvinMeritor, Inc. (NYSE: ARM) today announced the sale of the assets of its off-highway brake business to Carlisle Braking Products, owned by Carlisle Companies Incorporated of Charlotte, N.C., U.S. The purchase price of the transaction is approximately $39 million. The transaction will include the sale of equipment and assets from manufacturing facilities in York, S.C., U.S. and Cwmbran, South Wales, U.K.

"The divestiture of ArvinMeritor's off-highway brakes operation is aligned with the company's strategy to focus on its core products within the Light and Commercial Vehicle Systems businesses," said Chip McClure, ArvinMeritor chairman, CEO and president. "We will continue to offer a complete range of on-highway braking systems and components designed to meet the sophisticated needs of the commercial vehicle industry, both for our original equipment production and aftermarket customers around the world."

The company sold its off-highway axle business to AxleTech International of Troy, Mich., in December 2002.

Carlisle is a diversified global manufacturing company serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, foodservice, data transmission, and process systems industries.

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: http://www.arvinmeritor.com .

Forward-Looking Statements

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. 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 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; 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 customers and suppliers; the financial condition of the company's suppliers and customers, including potential bankruptcies; successful integration of acquired or merged businesses; the ability to achieve the expected annual savings and synergies from past and future business combinations; success and timing of potential divestitures; potential impairment of long-lived assets, including goodwill; competitive product and pricing pressures; the amount of the company's debt; 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; as well as other risks and uncertainties, including, but not limited to, those detailed from time to time in the filings of the company with the Securities and Exchange Commission.

SOURCE ArvinMeritor, Inc.

Media Inquiries:
Krista McClure
248-435-7115
krista.mcclure@arvinmeritor.com

David Giroux, Mobile:
(31) 23 56 90 410
david.giroux@arvinmeritor.com

Investor Inquiries:
Brian Casey
248-435-0015
brian.casey@arvinmeritor.com
all of ArvinMeritor, Inc.

 
 
 
 
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