Company Announces Contract Valued at $79 Million with a Leading Automotive
Manufacturer in China
SHANGHAI, China, Dec. 1 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) announced today that its Light Vehicle Systems (LVS) business
group will provide a leading automotive manufacturer in China with a complete
sealed door module, including window regulator and motor for a 2007 model year
vehicle, as part of a newly awarded, multi-year, $79 million contract.
ArvinMeritor will establish a final assembly Customer Value Center close to
the customer, with product shipments scheduled to begin in October 2006.
Customer identity and specific terms of the contract were not disclosed.
"We are honored to be selected as the door module partner for this
important domestic vehicle," said Robert Marty, vice president and general
manager of LVS Door Systems. "This is our first piece of door module business
with this customer. We look forward to the opportunity to provide them with
our advanced, safety-focused glass movement technology. We are confident in
our team's ability to deliver the highest levels of safety and quality for
China's domestic market."
ArvinMeritor's Light Vehicle Systems (LVS) business group posted $4.8
billion in sales during fiscal year 2005, and employs more than 15,000 people
at 73 facilities in 23 countries. LVS -- a market leader in the product
categories it serves -- supplies integrated systems and modules to the world's
leading passenger car and light truck OEMs. With advanced technology and
systems design expertise in apertures, undercarriage, wheel and emissions
control, LVS combines high-quality components into cost-effective,
performance-based solutions for virtually every car and light truck on the
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 light vehicle, commercial truck, trailer and specialty original
equipment manufacturers and certain aftermarkets. Headquartered in Troy,
Mich., ArvinMeritor employs approximately 29,000 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: 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
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; 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; 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 Commission.
SOURCE ArvinMeritor, Inc.