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ArvinMeritor and Chery Form Chassis Systems Joint Venture
ArvinMeritor Partners with China’s Fastest
Growing OEM
SHANGHAI, China (July 24, 2007) —
ArvinMeritor, Inc. (NYSE: ARM) and Chery announced today that
the parties have entered into a joint venture partnership to design and
manufacture chassis systems and components. The new joint venture, ArvinMeritor
Chassis Systems Wuhu Co., will evolve to a $150-million full-systems chassis
supplier by 2010. Production of shocks and struts will begin as early as
2008.
“ArvinMeritor’s alliance with Chery is a great example of the
company attaining strategic growth from three key focus areas; increasing
business with Asian customers, expanding in emerging markets, and growing our
light vehicle chassis business,” said Phil Martens, president of ArvinMeritor’s
Light Vehicle Systems business group. “This new business, which is quickly
ramping up, comes on the heels of several other new Chery contracts with
ArvinMeritor for its door systems technologies. We’re honored that Chery
continues to choose us as its technology partner,” continued Martens. “We see
these contracts as the first steps of many long-term opportunities for both
companies.”
“As the automotive footprint continues to evolve,
ArvinMeritor is well positioned to participate in Asia’s explosive growth
through its global partnerships and manufacturing network, including today’s
announcement with Chery,” said Rakesh Sachdev, president of ArvinMeritor’s Asia
Pacific operation. “The new chassis systems joint venture plant in Wuhu will be
one of several China-based facilities ArvinMeritor is adding to its network over
the next 18 months in support of new business with customers in the region.”
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 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/.
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