7th
August 2007 - ArvinMeritor Completes
the Company's
Divestiture of the Light Vehicle Aftermarket Business
Announces Sale
of Light Vehicle Aftermarket European Exhaust Operations
ArvinMeritor, Inc. today announced that it has sold its Light Vehicle Aftermarket (LVA)
European exhaust operations to Klarius Group Limited, located in the
United
Kingdom. Terms of the sale were not disclosed.
"This transaction completes the divestiture of the LVA
business," said
Chip McClure, ArvinMeritor chairman, CEO and president. "Our strategy is to
focus resources and capital on areas within our core businesses that
produce the highest returns for our shareowners."
This divestiture includes approximately 1,000 employees at
LVA
facilities in Blackpool, Lancaster and Stoke-on-Trent, England; Dreux
and
Nanterre, France; and Finale Emilia, Italy.
McClure added, "Completing the sale of LVA is another recent
achievement toward strengthening the company and positioning ourselves
for
profitable future growth."
About Klarius Group Limited
Klarius Group is a privately owned U.K. group established to
invest in
the European automotive sector.
About ArvinMeritor
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 19,000 people 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/.
Source: ArvinMeritor
Press Release