WREXHAM, Wales, Sept. 2 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) today announced that its Commercial Vehicle Systems (CVS) trailer
systems (axle and suspension) manufacturing will relocate to the company's
current Braking Systems European manufacturing headquarters in Cwmbran, Wales.
When ArvinMeritor opened consultations recently for the closure of trailer
axle manufacturing at its Wrexham plant, it announced the consideration of
several alternative locations in both Western and Eastern Europe. The Welsh
Development Agency, with the aid of a Regional Assistance Grant from the Welsh
Assembly Government, was instrumental in the retention of the company's
trailer axle manufacturing within the United Kingdom.
"Combining facilities to strengthen our global manufacturing base is in
line with our corporate strategy," said Chip McClure, chairman, CEO and
president of ArvinMeritor, Inc. "These actions support our efforts to be more
efficient, avoid creating excess capacity and improve our financial
"The combination of trailer and braking system manufacturing makes sense
for our business and our customers, and is totally aligned with our strategy
and growth plans," said Sergio Carvalho, vice president and general manager of
CVS Trailer Systems. "The decision will improve long-term competitiveness and
underscores our commitment to the European trailer market."
Details regarding the timing of the overall transition plan will be
communicated to the company's customers and suppliers in the near future.
ArvinMeritor's Commercial Vehicle Systems (CVS) business group posted more
than $3.2 billion in sales during fiscal year 2004, and employs more than
8,500 people at 65 facilities in 19 countries. CVS is one of the industry
leaders in supplying technologically advanced axle-braking and suspension
systems solutions as original equipment for medium -- and heavy-duty trucks,
trailers, buses, coaches and specialty vehicles worldwide.
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:
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. 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 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; 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 customers and suppliers; the financial condition
of the company's suppliers and customers, including potential bankruptcies;
successful integration of acquired or merged businesses; the ability to
achieve the expected annual savings and synergies from past and future
business combinations; success and timing of potential divestitures; potential
impairment of long-lived assets, including goodwill; competitive product and
pricing pressures; the amount of the company's debt; 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; as well as other
risks and uncertainties, including, but not limited to, those detailed from
time to time in the filings of the company with the Securities and Exchange
SOURCE ArvinMeritor, Inc.
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Web site: http://www.arvinmeritor.com