Continues Expansion of Global Manufacturing Presence
with Key Chinese Vehicle Maker
TROY, Mich., May 31 /PRNewswire/ -- ArvinMeritor, Inc. (NYSE: ARM) has
announced the formation of a joint venture with First Auto Works (FAW) Sihuan
Axle Brake Group of Changchun, China. The joint venture expands
ArvinMeritor's capacity to produce commercial vehicle foundation air brakes,
specifically air disc brakes and automatic slack adjusters.
The formation has been approved by both companies' boards and is pending
standard governmental approvals.
The joint venture contributes to ArvinMeritor remaining a premier
commercial vehicle brake manufacturer, and will allow the venture to establish
a new manufacturing facility in the Changchun area later this year. At the
new facility, 90,000 brakes will be made annually, when it reaches nominal
production levels. Components made will be for domestic markets and exports.
"Our presence and growth in the Chinese market is strategically important
to grow our global brake systems business," said Thomas Gosnell, president of
ArvinMeritor's Commercial Vehicle Systems business unit. "This is truly a
win-win-win business arrangement: A win for end-user customers, a win for the
First Auto Works Group and a win for ArvinMeritor and its shareowners."
First Auto Works was founded as China First Automobile Group Corp. in 1953
in a heavy-industry sector of the northeast part of China.
ArvinMeritor's Global Brake Systems business, led by Pedro Ferro, vice
president and general manager, also maintains major brake component
manufacturing and supply locations in Canada, United States, Mexico, Turkey
and Brazil. Together with its Meritor WABCO Vehicle Control Systems joint
venture in North America, ArvinMeritor was the first supplier to offer a
comprehensive package -- its Complete Braking System. This complete offering
includes foundation braking components, air compressors, air dryers, hydraulic
and pneumatic anti-lock braking systems, brake control valves, electronic
braking systems, and stability control systems.
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:
SOURCE ArvinMeritor, Inc.
D. Mike Pennington
both of ArvinMeritor, Inc.