Efforts Continue to Seek a Purchaser for the Plant
ASTI, Italy (Oct. 14, 2005) – Further to previous discussions regarding the cessation of production in Asti by Dec. 31, 2005, ArvinMeritor Suspension Systems srl today announced, by letter delivered to the Internal Union Representatives and the Industrial Association of the Province of Asti, the commencement of the “mobilita” (collective dismissal) procedure for employees at its Asti production plant.
Aware of the implications of its decision for the area and the community, the management of the company – which for some time has been seeking a suitable purchaser – will continue efforts to sell the business, in an attempt to preserve the manufacturing tradition that has existed for over a century at the site.
The cessation of production in Asti is the consequence of a general decision taken by the Group on a worldwide level to cease the production of shock absorbers for sale to light vehicle manufacturers. In furtherance of the decision, ArvinMeritor has taken similar steps at other plants abroad.
ArvinMeritor’s Light Vehicle Systems (LVS) business group posted $4.8 billion in sales during fiscal year 2004, and employs 17,000 people at 75 facilities in 23 countries. LVS – a market leader in the product categories it serves – supplies integrated systems and modules to the world’s leading passenger car and light truck OEMs. With advanced technology and systems design expertise in apertures, undercarriage, wheel and emissions control, LVS combines high-quality components into cost-effective, performance based solutions for virtually every car and light truck on the road today.
ArvinMeritor, Inc. is a premier $8 billion 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 related aftermarkets. Headquartered in Troy, Mich., ArvinMeritor employs approximately 31,000 people at more than 120 manufacturing facilities 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/.
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