ArvinMeritor Dedicates Customer Value Center in Montgomery
DETROIT, Oct. 25, 2005 -- ArvinMeritor, Inc. dedicated its Light Vehicle Systems (LVS) Customer Value Center (CVC) today in Montgomery, Ala., with a ribbon-cutting ceremony followed by site tours. The event celebrated the opening of the final assembly facility that will deliver one million complete door modules annually for Hyundai's North American production of Sonata and Santa Fe models.
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"We are proud to be part of the city of Montgomery and support job growth in Alabama," said ArvinMeritor Chairman, CEO and President Charles G. "Chip" McClure. After a comprehensive search of the greater Montgomery area, McClure said, ArvinMeritor decided to locate its door module CVC at this location because of its readiness to serve as a manufacturing site in close proximity to the customer, and for its accessibility to a talented local workforce. Located just three miles from Hyundai Motor Manufacturing Alabama, the CVC delivers modules that are line-sequenced to the automaker's production every 90 minutes.
The 43,880-square-foot facility employs 130 people. Combined with its joint venture in Fort Deposit, ArvinMeritor employs approximately 215 people in Alabama.
ArvinMeritor's 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, 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 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/ .
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. 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 and potential disruption of production and supply due to terrorist attacks or acts of aggression); availability and cost of raw materials, including steel; 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; the financial condition of the company's suppliers and customers, including potential bankruptcies; successful integration of acquired or merged businesses; the ability to achieve the expected annual savings and synergies from past and future business combinations; success and timing of potential divestitures; potential impairment of long-lived assets, including goodwill; 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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