ArvinMeritor to Close Shock Absorber Operation in Pulaski, Tennessee
DETROIT, Sept. 7 -- ArvinMeritor, Inc. announced today its plans to close its Light Vehicle Systems (LVS) shock absorber assembly operation in Pulaski, Tenn., U.S. The company will transfer a portion of the production to its Detroit, Mich., U.S., and Toronto, Ont., Canada facilities, with remaining business being phased out by July 2006. The company met with employees today to discuss the transfer and closure plans, which will affect all 268 employees.
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"As announced in our second-quarter earnings release, ArvinMeritor identified the need to rationalize 11 sites, to further focus its businesses on serving customer needs and improve its return on invested capital," said Sidney Del Gaudio, vice president and general manager of LVS Undercarriage Systems. "Pulaski was one of the 11 sites chosen because its overall costs exceeded the short- and long-term returns required to sustain the business and remain competitive."
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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