TROY, Mich., May 5 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) announced today that its Light Vehicle Aftermarket (LVA) business
group has been named as the supplier of exhaust products to more than 1,600
U.S. Midas shops, through an agreement with Memphis, Tenn.-based AutoZone.
Per the agreement, AutoZone will serve as the exclusively endorsed supplier of
Arvin-brand exhaust products to Midas. ArvinMeritor's LVA operations, based
in Loudon, Tenn., will supply the exhaust products to AutoZone -- replacing
Midas-brand exhaust products currently supplied by AutoZone to Midas U.S.
locations. ArvinMeritor has also entered into a separate agreement to
purchase certain IPC assets from Midas, among them the IPC brand.
"The agreements with AutoZone and Midas represent an expansion to our six-
year relationship as a supplier to Midas, and to our more than 20-year
relationship with AutoZone," said Dan Daniel, president of Light Vehicle
Aftermarket for ArvinMeritor. "We remain committed to supplying AutoZone and
Midas with industry-leading service levels and product coverage on our high-
quality, cost-competitive exhaust products."
"The additional volume provided to our business through these agreements
will help to offset the declines in the overall exhaust aftermarket in North
America, and ensure our ability to continue to provide our customers with our
industry-leading customer service and competitiveness. Furthermore, we look
forward to the opportunity to serve IPC customers."
The agreements follow Midas' announcement last October that it sought to
exit exhaust manufacturing and IPC-brand distribution, and would negotiate
with alternate suppliers to do so. Midas expects that it will exit both of
those businesses by Dec. 31, 2005.
Within the next few weeks, AutoZone will begin a region-by-region
implementation of weekly stocking shipments of Arvin exhaust products to U.S.
Midas shops. That conversion is expected to be complete by Dec. 31.
ArvinMeritor's LVA group and Midas will also establish contact within the next
few weeks with Midas' IPC customers regarding the transition period and
continuing supply thereafter.
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:
Midas is one of the world's largest providers of automotive service,
offering brake, exhaust, steering and suspension services, as well as
maintenance services, tires and batteries at more than 2,600 franchised,
licensed and company-owned Midas shops in 19 countries, including more than
1,800 in the United States and Canada.
As of February 12, 2005, AutoZone sells auto and light truck parts,
chemicals and accessories through 3,474 AutoZone stores in 48 states plus the
District of Columbia in the U.S. and 67 AutoZone stores in Mexico and also
sells the ALLDATA brand diagnostic and repair software. On the web, AutoZone
sells diagnostic and repair information and auto and light truck parts through
SOURCE ArvinMeritor, Inc.
both of ArvinMeritor, Inc.