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7th
November 2007 - ArvinMeritor
Announces Construction of New Commercial Vehicle Systems Plant in Mexico
ArvinMeritor today announced it will open
a new Commercial Vehicle Systems (CVS) facility in Monterrey, Mexico.
This new facility - which will include approximately 400,000 square feet
of manufacturing and office space - will provide additional capacity for
the company's axle and brake assembly operations and component
manufacturing.
"We are looking forward to beginning
construction of this new facility," said Carsten Reinhardt, president of
CVS for ArvinMeritor. This investment demonstrates our commitment to
being a leading supplier in the North American truck industry." Start of
production is scheduled for May 2008.
Reinhardt added, "We have worked closely
with government officials in the state of Nuevo Leon to expeditiously
plan and launch this facility so that we are operational prior to the
anticipated upturn in the North American markets."
Alejandro Paez Aragon, Secretary of
Economic Development, said, "We are very pleased that ArvinMeritor has
selected the state of Nuevo Leon for their new facility in Mexico. This
action continues to demonstrate that Mexico, in general, and
particularly, the State of Nuevo Leon, is a strong competitor for new
operations as automotive and truck manufacturers - and their suppliers -
expand their operations in North America."
ArvinMeritor's additional operations in
Mexico include:
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Wheels facility in San
Luis Potosi, Mexico |
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Roof and door module
facility in Puebla, Mexico |
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Ride Control
Aftermarket facility in Queretaro, Mexico |
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Commercial vehicle
aftermarket warehouse in Escobedo, Mexico |
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Sistemas Automotrices de Mexico joint venture in
Monterrey, Mexico, which manufactures axles, brakes and drivelines
for the North American market |
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/.
Forward-Looking Statements
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
cycles and 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
suppliers and customers, 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; possible adverse effects of
any future suspension of normal trade credit terms by our suppliers;
potential difficulties competing with companies that have avoided their
existing contracts in bankruptcy and reorganization proceedings;
successful integration of acquired or merged businesses; the ability to
achieve the expected annual savings and synergies from past and future
business combinations and the ability to achieve the expected benefits
of restructuring actions; success and timing of potential divestitures;
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 continue to comply with covenants in its financing
agreements; 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; rising costs of pension and
other post-retirement benefits and possible changes in pension and other
accounting rules; as well as other risks and uncertainties, including
but not limited to those detailed from time to time in filings of the
company with the SEC. These forward-looking statements are made only as
of the date hereof, and the company undertakes no obligation to update
or revise the forward-looking statements, whether as a result of new
information, future events or otherwise, except as otherwise required by
law.
Source: ArvinMeritor Press
Release
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