SALONTA, Romania, Jan. 31 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) announced today the start of production at a new Light Vehicle
Systems (LVS) facility in Salonta, Romania.
This new plant, which occupies approximately 5,400 square meters of
manufacturing space, will supply window regulators, cables, latches and
actuators directly to Dacia, the largest vehicle manufacturer in Romania
and part of the Renault Nissan group.
"This new facility in Salonta represents a significant further
investment by ArvinMeritor in Central Europe, and is in line with our
targets on driving manufacturing in leading cost competitive countries
wherever viable," said Aziz Aghili, vice president and general manager of
the company's Body Systems group. "By locating our production directly in
Romania we can minimize our operating costs, be exceptionally responsive to
our local customer and create over 100 new jobs in the area."
ArvinMeritor began producing components and systems in Central and
Eastern Europe in 1992, with the opening of a door systems operation in
Liberec, Czech Republic. The company's Romania facility represents the
sixth operation to be established in this region.
About Light Vehicle Systems
ArvinMeritor's LVS business group is a market leader in the product
categories it serves, supplying integrated systems and modules to the
world's leading passenger car and light truck OEMs. Through smart
systems(TM) technologies, the intelligent application of controls and
electronics, ArvinMeritor's traditional mechanical products are taking on
new form and function at both the component and system levels. With
advanced technology and systems design expertise in body systems, chassis
and wheels, LVS integrates high-quality components into cost-effective,
performance-based solutions for virtually every car and light truck on the
road today.
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 commercial truck, trailer and specialty original
equipment manufacturers and certain aftermarkets, and light vehicle
manufacturers. Headquartered in Troy, Mich., ArvinMeritor employs
approximately 18,000 people in 24 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 and oil; 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; potential impairment of long-lived assets,
including goodwill; potential adjustment of the value of deferred tax
assets; 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; product liability and
warranty and recall claims; 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 herein and from time to time in other 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.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )
SOURCE ArvinMeritor, Inc.
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Related links:
http://www.arvinmeritor.com
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NewsCom: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO
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PRN Photo Desk, photodesk@prnewswire.com
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CONTACT:
Media - Europe, Marco Foley, +44 (0)121 625
3220, marco.foley@arvinmeritor.com, or Malte Raddatz, +49 (0)
1753-683001, malte.raddatz@arvinmeritor.com; or Media - U.S., Kim
Adler, +1-248-435-1981, kimberly.adler@arvinmeritor.com; or
Investors, Terry Huch, +1-248-435-9426,
terry.huch@arvinmeritor.com, all of ArvinMeritor, Inc.
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