ArvinMeritor Wins New Roof Module Business
TROY, Mich., March 18 -- ArvinMeritor, Inc. announced today that its Light Vehicle Systems (LVS) business group has been awarded a new, multi-year, $75 million contract for a large, roof-opening module with an European OEM. Production will begin in November 2006. The identity of the customer and terms of the contract were not disclosed.
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"This award signifies a growing market demand for ArvinMeritor's product advancements in large roof system designs," said Alberto Nadal, vice president and general manager of LVS Roof Systems. "Our continued focus on engineering, styling and the use of alternative materials is resulting in larger roof- opening products that weigh less, as well as provide the highest levels of safety."
The rail-to-rail roof module features a full-glass appearance, and uses the ArvinMeritor industry award-winning long fiber injected (LFI) process. It also includes a large, integrated spoiler sunroof, with a tubeless water management system.
ArvinMeritor's Light Vehicle Systems (LVS) business group posted more than $4.3 billion in sales during fiscal year 2003, and employs more than 17,000 people at 74 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, wheels 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 32,000 people at more than 150 manufacturing facilities in 27 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: www.arvinmeritor.com .
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. 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 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; potential increases in raw material costs; 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 customers and suppliers; successful integration of acquired or merged businesses; the ability to achieve the expected annual savings and synergies from past and future business combinations; competitive product and pricing pressures; the amount of the company's debt; 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; as well as other risks and uncertainties, including, but not limited to, those detailed from time to time in the filings of the company with the Securities and Exchange Commission.
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