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ArvinMeritor Announces Sale of Purolator Filters Business to Bosch and MANN+HUMMEL

Feb 23, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- ArvinMeritor, Inc. (NYSE: ARM) announced today that it has entered into a definitive agreement to sell its Light Vehicle Aftermarket (LVA) Purolator filters business in North America to Bosch and MANN+HUMMEL. The transaction is subject to regulatory approvals. Terms of the agreement were not disclosed. The agreement to sell Purolator is part of ArvinMeritor's previously announced strategy to divest its LVA businesses individually.

Bosch and MANN+HUMMEL intend to operate Purolator, which is based in Fayetteville, N.C., as a joint venture. Purolator is one of the largest manufacturers of oil, air, fuel (petrol and diesel) and cabin filters in the world, with production operations in Fayetteville; a distribution facility in Salt Lake City, Utah; and a marketing and administrative center in Brentwood, Tenn.

"The sale of Purolator is another key strategic step that enables us to focus on our core competencies and strengthen our financial position," said Chip McClure, ArvinMeritor chairman, CEO and president. "While Purolator is a strong business with a long heritage and a talented workforce, it is a business that no longer fits our long-term strategy.

"We are encouraged by the interest that potential buyers have shown in our global LVA businesses, and we continue to work diligently to divest these remaining businesses in a way that is fair to our employees and generates maximum value for our shareholders," said McClure.

Purolator North America -- a leading national brand and supplier of filtration products including air, oil and fuel filters -- has been manufacturing, marketing and distributing filters since 1923. In fact, the first automotive oil filter, patented by Ernest J. Sweetland and George H. Greenhalgh, was called a "Purolator." The Fayetteville, N.C., operation is the largest filter plant in the world. Approximately 984 employees at the 640,000-square-foot production facility and adjacent distribution warehouse serve the full range of aftermarket customers including retailers, distributors and installers. The business also operates a 110,000-square-foot distribution warehouse facility in Salt Lake City, Utah, employing approximately 10 people, and a 2,600-square-foot marketing and administrative center in Brentwood, Tenn., employing approximately 18 people. Key customers include Ford, GM, DaimlerChrysler, Toyota, Isuzu, Advance Automotive, Shell, Quaker State, Texaco, Pep Boys, The Aftermarket Auto Parts Alliance and O'Reilly Automotive. Today, the Purolator brand includes more than 2,000 part numbers for automotive, light truck and heavy-duty applications.

About Bosch

The Bosch Group is a leading global manufacturer of automotive and industrial technology, consumer goods, and building technology. In fiscal 2005, some 250,000 associates generated sales of 42 billion euros (approx. $52.2 billion USD). Set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and Electrical Engineering," the Bosch Group today comprises a manufacturing, sales, and after-sales service network of some 260 subsidiaries and more than 10,000 service centers in over 130 countries.

The special ownership structure of the Bosch Group guarantees its financial independence and entrepreneurial freedom. It makes it possible for the company to undertake significant up-front investments in the safeguarding of its future, as well as to do justice to its social responsibility in a manner reflective of the spirit and will of its founder. Ninety-two percent of the shares of Robert Bosch GmbH are held by the charitable foundation Robert Bosch Stiftung. The entrepreneurial ownership functions are carried out by Robert Bosch Industrietreuhand KG.


The MANN+HUMMEL Group is an international company. In 2005, the company achieved sales of approx. 1.35 billion euros (approx. $1.6 billion USD). The MANN+HUMMEL Group currently employs around 9,300 people at 41 locations worldwide. The company develops, produces and sells technically complex automotive components such as air filter systems, intake manifold systems, liquid filter systems and cabin filters for the automotive industry, and filter elements for vehicle servicing and repair. For general engineering, process engineering and industrial manufacturing sectors the company's product range includes industrial filters, filter systems, and materials handling systems and equipment. MANN+HUMMEL's customers come from a large number of sectors, with series production for the automotive industry occupying a key position. Further information about MANN+HUMMEL can be found under http://www.mann-hummel.com .

About ArvinMeritor

ArvinMeritor, Inc. is a premier $8.9 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 certain aftermarkets. Headquartered in Troy, Mich., ArvinMeritor employs approximately 29,000 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, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; 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:
Jerry Rush

Investor Inquiries:
Ken Andrysiak
both of ArvinMeritor, Inc.

2014 Meritor, Inc. All Rights Reserved.

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