TROY, Mich., Nov. 6 /PRNewswire-FirstCall/ -- ArvinMeritor (NYSE: ARM)
announced today that its Body Systems business unit within the Light
Vehicle Systems (LVS) business group has been awarded new business to
supply over four million window regulator motors annually to Hyundai Motor
Company worldwide. The agreement will supply Hyundai's future models with
ArvinMeritor's New Generation Motor II from January 2010 through January
2017.
"This new business award is indicative of Hyundai's confidence in
ArvinMeritor's body systems technology. Our competitive advantage is rooted
in our global footprint that enables us to produce high-quality products in
locations that are convenient to our customers all over the world," said
Aziz Aghili, vice president and general manager of Body Systems for LVS,
ArvinMeritor.
The New Generation Motor II offers several benefits, including an
improved electromagnetic compliance design, a more robust brush card, and
minimization of lower body vibration due to the improved rigidity of the
gear housing - all at a reduced cost.
The New Generation Motor II will be produced in ArvinMeritor facilities
located in China, India, France, and the United States for delivery to
Hyundai manufacturing facilities located in Korea, Europe, China, India,
and the United States.
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 combines 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 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; potential 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.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )
SOURCE ArvinMeritor
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Related links:
http://www.arvinmeritor.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/762401.html /
CONTACT:
Media, Colleen Hanley, +1-313-551-2833,
colleen.hanley@arvinmeritor.com, or Investors, Terry Huch,
+1-248-435-9426, terry.huch@arvinmeritor.com, both of
ArvinMeritor
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