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ArvinMeritor to Sell Its MSSC Joint Venture Shares to Mitsubishi Steel

TROY, Mich., July 26 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.'s (NYSE: ARM) Light Vehicle Systems (LVS) business group announced today that it has signed a letter of intent to sell its 57 percent shareholdings in Meritor Suspension Systems Company (MSSC) to joint venture partner Mitsubishi Steel Mfg. Co., Ltd. (MSM). The joint venture, formed in 1986, produces steel torsion and stabilizer bars and coil springs for the North American passenger car market. The sale is subject to final ArvinMeritor board and regulatory approval; terms of the transaction were not disclosed.

"Due to the competitive global nature of the automotive industry, the current regional structure of this joint venture has limited its ability to grow," said Juan De La Riva, president of ArvinMeritor's LVS business group. "Our relationship with MSM has been a rewarding one, and we are confident that under their sole direction and leadership, the business will have greater opportunities for global growth and prosperity."

ArvinMeritor, Inc. is a premier $8.8 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 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: www.arvinmeritor.com.

SOURCE ArvinMeritor, Inc.

CONTACT:
Media Inquiries
Colleen Hanley
248-435-1587
colleen.hanley@arvinmeritor.com

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

Investor Inquiries
Terry Huch
248-435- 9426
terry.huch@arvinmeritor.com

 
 
 
 
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