TROY, Mich., Jan. 24 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) announced today that its Light Vehicle Systems (LVS) business
group has been awarded a multi-year contract to supply Hyundai North America
with an innovative plastic door module and accompanying corporate latch
product for the new Hyundai Sonata. Production is scheduled to begin in March
The highly integrated plastic (HIP) door module will replace the current
steel version, and is part of ArvinMeritor's smart systems(TM) product
strategy to combine electronics and controls with heritage mechanical
components to enhance vehicle systems performance. The HIP uses an innovative
composite construction to intelligently integrate the electro-mechanical and
modular components, saving up to 25 percent in weight and representing the
first application of plastic door module technology at Hyundai. It is also the
first such ArvinMeritor product to appear on the North American market.
The Hyundai Global Latch (HGL) will be delivered alongside the HIP and is
ArvinMeritor's next generation corporate latch for Hyundai. This product is an
adaptable global concept based upon robust ArvinMeritor functional modules and
provides improvements in security, weight, packaging and cost.
Both of these products will be manufactured in North America with an
initial annual volume projected to be approximately 700,000 units each.
"This new business win is another example of how ArvinMeritor is
leveraging unique integration expertise into innovative modules and systems,"
said Aziz Aghili, vice president and general manager of ArvinMeritor Body
Systems for LVS. "These new developments allow us to bring real value to
exciting vehicle manufacturers such as Hyundai, while continuing to expand our
global reach and customer base."
ArvinMeritor's LVS business group is a market leader in the product
categories it serves, supplying integrated systems and modules to the world's
leading passenger car and light truck OEMs. Through smart systems(TM)
technologies, the intelligent application of controls and electronics,
ArvinMeritor's traditional mechanical products are taking on new form and
function at both the component and system levels. With advanced technology
and systems design expertise in body systems, chassis and wheels, LVS combines
high-quality components into cost-effective, performance-based solutions for
virtually every car and light truck on the road today.
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," "will" 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; including any litigation with respect to
environmental or asbestos-related matters; product liability and warranty and
recall claims; rising costs of pension and other post-retirement 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: Marco Foley, +44 (0)121 625 3220, firstname.lastname@example.org,
or Malte Raddatz, +49 (0) 1753-683001, email@example.com, both of
Web site: http://www.arvinmeritor.com