Takes Stand to Protect Fair Competition
TROY, Mich., Oct. 5 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) announced today that ZF Meritor LLC, a venture between
ArvinMeritor and ZF Friedrichshafen AG, and Meritor Transmission Corporation,
an ArvinMeritor company, have filed an antitrust lawsuit against Eaton
Corporation (NYSE: ETN) in the United States District Court for the District
of Delaware. The Companies are seeking an injunction prohibiting Eaton from
engaging in anticompetitive conduct in the markets for heavy-duty truck
transmissions and have asked the court to award treble damages, as authorized
by federal antitrust laws.
The lawsuit alleges that Eaton has engaged in anticompetitive conduct that
has harmed competition in the markets for heavy-duty truck transmissions by
limiting consumer choice, eliminating competitive checks on pricing and
suppressing innovation. The lawsuit also alleges Eaton's conduct forced ZF
Meritor, though still a legal entity today, to cease operations.
Commenting on the lawsuit, Chip McClure, chairman, CEO and president of
ArvinMeritor said, "It is unfortunate that we have reached this point. We have
filed this lawsuit to protect competition, our shareholders, and heavy-duty
truck buyers. In a market without competition, innovation languishes, choice
evaporates and prices increase. We are committed to protecting the interests
of our loyal customers who have depended on ArvinMeritor to provide advanced
technologies, exceptional products and outstanding service."
To view a copy of the lawsuit, please visit
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/.
ZF is a leading worldwide supplier of driveline and chassis technology.
Headquartered in Friedrichshafen, Germany, ZF is among the 15 largest
automotive suppliers in the world. The company employs approximately 54,000
at 122 locations in 26 countries, and totaled sales of $13.5 billion in 2005.
ZF operates a large manufacturing network in North America, combined with
global research and development capabilities, to provide advanced technology
to the region. The ZF Group North American Operations Headquarters and
Technical Center is located in Northville, Mich., USA.
SOURCE ArvinMeritor, Inc.
D. Mike Pennington
all of ArvinMeritor, Inc.
ZF Group North American Operations