TROY, Mich., Oct 06, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- ArvinMeritor, Inc.
(NYSE: ARM) today announced the sale of the assets of its off-highway brake
business to Carlisle Braking Products, owned by Carlisle Companies
Incorporated of Charlotte, N.C., U.S. The purchase price of the transaction
is approximately $39 million. The transaction will include the sale of
equipment and assets from manufacturing facilities in York, S.C., U.S. and
Cwmbran, South Wales, U.K.
"The divestiture of ArvinMeritor's off-highway brakes operation is aligned
with the company's strategy to focus on its core products within the Light and
Commercial Vehicle Systems businesses," said Chip McClure, ArvinMeritor
chairman, CEO and president. "We will continue to offer a complete range of
on-highway braking systems and components designed to meet the sophisticated
needs of the commercial vehicle industry, both for our original equipment
production and aftermarket customers around the world."
The company sold its off-highway axle business to AxleTech International
of Troy, Mich., in December 2002.
Carlisle is a diversified global manufacturing company serving the
construction materials, commercial roofing, specialty tire and wheel, power
transmission, heavy-duty brake and friction, foodservice, data transmission,
and process systems industries.
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.
David Giroux, Mobile:
(31) 23 56 90 410