BEIJING, China (April 21, 2008) –
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 two million
window regulator motors to Hyundai Motor Company. The agreement will supply
Hyundai’s Elantra, a mid-size sedan, with ArvinMeritor’s New
Generation Motor (NGM) II from mid-2008 through mid-2012. "This important
new business award reflects Hyundai’s confidence in ArvinMeritor’s
world-class engineering and manufacturing capabilities," said Phil
Martens, president, LVS. "The NGM II offers several benefits, including an
improved electromagnetic compliance design, a more robust brush card, and lower
noise, vibration and harshness due to the improved rigidity of the gear housing
– all at a reduced cost." The New Generation Motor II will be
manufactured by ArvinMeritor’s facility located in Zhenjiang,
China for the Hyundai
Elantra assembled in China.
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™ 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 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; the
outcome of actual and potential 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.
CONTACTS:
Media Inquiries – Americas
and Asia Pacific
Jeff Gammons
+1 (313) 551-2903
mailto:jeffrey.gammons@arvinmeritor.com
Media
Inquiries – Europe
Marco Foley
+44 (0)121 625 3220
mailto:marco.foley@arvinmeritor.com
Investor Inquiries
Terry Huch
(248) 435-9426
mailto:terry.huch@arvinmeritor.com
Editor’s
Note: High-resolution photos can be downloaded from ArvinMeritor's Photo
Library at: http://www.arvinmeritor.com/media_room/photo_library.asp.