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9th May 2007 - Affinia Expands Its Presence in India and China Through Joint Venture with MAT Holdings Expansion Strengthens Position as Globally Competitive Manufacturer Affinia Group Inc., a global leader in the on and off highway replacement products and service industry, announced that it has signed a joint venture agreement with MAT Holdings, Inc. ("MAT") to produce brake products in China and India. "Through this joint venture we will expand our manufacturing presence in China and India, and fortify our base for distribution throughout Asia," said John R. Washbish, President of Affinia's Under Vehicle Group. "In this new partnership with MAT we are teaming with a company that has consistently proven its ability to provide high quality parts in accordance with Affinia's stringent standards. This is what our Raybestos brand customers and our private label channel partners expect." MAT, with manufacturing facilities in Europe and Asia, has supplied brake system components to Affinia since 1995. The new manufacturing and distribution centers will be located in New Delhi, India and Shanghai, China. Production is expected to begin in the first quarter of 2008. "Our relentless drive as a new company is to cost effectively compete in rapidly expanding markets such as China and India. To do that we must manufacture globally and distribute locally. This new MAT joint venture firmly establishes our manufacturing base to support local distribution in Asia. It is a vital part of our transformation into a world-class, global manufacturer and distributor of high quality on and off highway replacement products and services," said Terry R. McCormack, Affinia's President and Chief Executive Officer. MAT Holdings, Inc. is a global strategic supplier. Through its subsidiaries, MAT Holdings, Inc. specializes in the manufacture of automotive braking components, fencing, hardware, tools, air compressors, and outdoor power equipment, as well as automotive aftermarket appearance and lighting products. MAT Holdings Inc. has manufacturing facilities in Europe and Asia. Affinia Group Inc. is a global leader in the on and off highway replacement products and services industry. In North America the Affinia family of brands includes WIX(R) filters; Raybestos(R) brand brakes and AIMCO(R) brake products, and McQuay-Norris(R) and Spicer(R) Chassis parts. South American and European brands include Nakata(R), Filtron(R), Urba(R) and Quinton Hazell(R). For more information, visit www.affiniagroup.com Source: Affinia Group Press Release |