TROY, Mich., Dec. 11 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) has entered into an agreement to acquire Mascot Truck Parts Ltd.,
a major remanufacturer of transmissions, drive axle carriers, steering gears
and drivelines, based in Mississauga, Ontario, Canada. Terms of the
acquisition were not disclosed.
Mascot's 170 full-time employees, six remanufacturing locations, and
current customer base will become part of the ArvinMeritor team. Mascot enjoys
a strong customer satisfaction level with its loyal customers in Canada and
the United States.
"This expansion of our remanufacturing business makes sense for our
customers and aligns with our business strategy to grow the aftermarket
business," said Carsten Reinhardt, president of ArvinMeritor's Commercial
Vehicle Systems business. "Mascot has a similar passion for providing its
customers with high-quality, dependable, remanufactured components - all of
which complement the ArvinMeritor remanufacturing model."
"Our reputation for quality, customer service, wholesale-only
distribution, and extensive product knowledge are considerable assets that we
have developed for many years. We believe this arrangement between
ArvinMeritor and Mascot will offer the market products and services unmatched
by our competition," said Glenn Hanthorn, president of Mascot.
Mascot's six Canadian remanufacturing locations - including three in
Mississauga, Ontario; and one each in Edmonton, Alberta; Moncton, New
Brunswick; and Boucherville, Quebec - as well as its network of logistic
centers across North America that provides customers with immediate
availability of remanufactured products - will become integral to
ArvinMeritor's remanufacturing business.
ArvinMeritor established its axle carrier remanufacturing operation in
1982 at its Florence, Ky., national parts distribution center, and has since
moved that operation into a major remanufacturing center that now includes
brake shoes, transmissions and trailer axles, with 275,000 sq. ft. and 220
employees in Plainfield, Ind.
In late 2006, ArvinMeritor reached two major remanufacturing milestones
with production of its 10 millionth brake shoe and 50,000th axle differential
carrier produced for North American customers.
About Mascot Truck Parts Ltd.
With over seven decades of experience, Mascot Truck Parts Ltd. is a long
term player in the Heavy Duty industry. Founded in 1936, it has evolved into
one of the largest heavy duty specialists in North America, applying its
expertise to rebuilding all makes of transmissions, differentials, and
steering gears. Using only the highest quality components, Mascot's technical
experts, world class call center and knowledgeable sales staff are devoted to
providing superior quality, service, and support in every product sold.
Currently, these products are available from more than 20 facilities in Canada
and the U.S., allowing expedient delivery of quality products and service
across North America.
ArvinMeritor, Inc. is a premier global supplier of a broad range of
integrated systems, modules and components to the motor vehicle industry. The
company serves commercial truck, trailer and specialty original equipment
manufacturers and certain aftermarkets, and light vehicle manufacturers.
Headquartered in Troy, Mich., ArvinMeritor employs approximately 18,000 people
in 23 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/.
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. Forward-looking statements are typically identified by words or
phrases such as "believe," "expect," "anticipate," "estimate," "should," "are
likely to be" and similar expressions. 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 cycles and 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 and oil; 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
suppliers and customers, 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; possible adverse effects of any future suspension of normal
trade credit terms by our suppliers; potential difficulties competing with
companies that have avoided their existing contracts in bankruptcy and
reorganization proceedings; successful integration of acquired or merged
businesses; the ability to achieve the expected annual savings and synergies
from past and future business combinations and the ability to achieve the
expected benefits of restructuring actions; success and timing of potential
divestitures; potential impairment of long-lived assets, including goodwill;
potential adjustment of the value of deferred tax assets; competitive product
and pricing pressures; the amount of the company's debt; the ability of the
company to continue to comply with covenants in its financing agreements; 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; rising costs of pension and other postretirement benefits and
possible changes in pension and other accounting rules; as well as other risks
and uncertainties, including but not limited to those detailed herein and from
time to time in other filings of the company with the SEC. These forward-
looking statements are made only as of the date hereof, and the company
undertakes no obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise, except as
otherwise required by law.
SOURCE ArvinMeritor, Inc.
CONTACT: Media, Krista McClure, +1-248-435-7115,
email@example.com, or, Investor, Terry Huch,
+1-248-435-9426, firstname.lastname@example.org, both of ArvinMeritor, Inc.
Web site: http://www.arvinmeritor.com