Meritor is New Name for Rockwell Automotive
14 August 1997
Meritor is New Name for Rockwell Automotive
TROY, Mich., Aug. 14 -- The 90-year-old automotive unit of
Rockwell, soon to be an independent, stand-alone company, unveiled its new
name, Meritor Automotive, Inc., during ceremonies today.
Meritor is expected to be established as a separate company on October 1,
1997.
"The Meritor name and logo symbolize the quality, integrity, experience,
longevity and outstanding service that are the core attributes of our
enterprise," said Larry D. Yost, who will serve as chairman and chief
executive officer of Meritor. The new name was derived from the Latin word
"meritum," meaning service, worth and benefit, Yost said.
"With our new name, we begin an exciting new chapter for a global
enterprise already known for reliability, service and innovative technological
solutions for our many customers and valued partners," Yost said. "It's an
exciting time for all of us at Meritor. We have the enthusiasm of a start-up
company, balanced by the capability and long-standing reputation built over
nearly a century in the automotive industry. As a stand-alone company, we
will be able to focus more intensely than ever on providing our customers with
outstanding value."
He added, "Our name may have changed, but our proud heritage, core values,
customer focus and desire to be the world's best continue to be the driving
force central to everything we do at Meritor. These fundamental qualities
provide us with a time-tested foundation for future growth, technological
innovation and even higher levels of customer service."
Meritor employs more than 16,000 people at 58 manufacturing, research and
sales facilities in 15 countries and had 1996 sales of approximately
$3.1 billion, with 44 percent of those sales to international customers.
The company, headquartered in Troy, Michigan, serves more than 800 original
equipment manufacturers of automobiles, light-, medium- and heavy-duty trucks
and other vehicles.
The transaction is expected to be complete by September 30, 1997. As
previously announced, Rockwell shareholders will receive one share in Meritor
for every three shares of Rockwell stock. The Meritor stock will be traded on
the New York Stock Exchange beginning October 1, 1997.
Meritor is a global supplier of a broad range of components and systems
for commercial, specialty and light vehicles. The company comprises two
businesses: Heavy Vehicle Systems, a leading supplier of drivetrain systems
and components for medium- and heavy-duty trucks, trailers, off-highway
equipment and specialty vehicles including military, bus and coach, and fire
and rescue; and Light Vehicle Systems, a major supplier of roof, door, access
control and seat adjusting systems, electric motors and electronic controls,
suspension systems and wheels for passenger cars, light trucks and sport
utility vehicles.
For more information, visit the company's website at
http://www.meritor.rockwell.com
"THE BIRTH OF MERITOR"
The creation of a new name and corporate identity
Meritor's new name and logo is truly its signature. It is a distinctive
symbol of the company's rich heritage and bright prospects as a leading,
stand-alone enterprise.
How was the new name selected? What does the new logo represent...and
why?
For more than five months, one of the nation's leading corporate identity
development firms, Landor Associates, conducted extensive research, both
internally and externally. Members of management were interviewed, and
employee focus groups were conducted.
Landor also surveyed customers of both the Heavy Vehicle Systems and Light
Vehicle Systems businesses, as well as key financial analysts. How is the
spin-off being perceived? What are the implications of losing the Rockwell
name?
The mission: to create a name and identity that captured the essence of
Rockwell Automotive -- the attributes that make it the partner of choice to
thousands of customers worldwide who value quality products, innovative
systems and solutions and outstanding service.
The name Meritor, itself, is a coined word derived from the Latin
"meritum," meaning merit, deserve, worth, benefit and service. The name is
especially significant as it applies to the quality of both Meritor's products
and its employees.
The powerful new logo -- a stylized bull with wings -- represents
Meritor's core attributes of power, stability, integrity and agility. It is a
mythological and magical creature which, in flight, symbolizes speed to serve
customers no matter where in the world they do business.
The tag line, or message, that appears below the logo completes the new
identity system. "A Heritage of Rockwell Technology" was ultimately chosen
based on two primary research findings.
First, it is true that Meritor will be a stand-alone, independent company
on October 1, 1997, with a sharpened focus on the global marketplace and a
heightened commitment to continuously improve its products, technology and
customer service. It is also an entity that has a rich heritage, serving the
transportation industry with a comprehensive array of products and systems
since the beginning of the 20th century.
Secondly, the Rockwell linkage dates back 80 of those 90 years to when
Willard Rockwell purchased the automotive business's predecessor, the
Wisconsin Parts Company. Rockwell Automotive, now Meritor, has earned its
robust reputation in the industrial marketplace around the world.
New and old: driving the future's potential with time-tested performance.
With the company's heightened emphasis on quality, innovation and customer
value, Meritor's new corporate signature is sure to make its mark throughout
the world.
SOURCE Meritor Automotive, Inc.
Photo of Larry Yost available on AP PhotoExpress Network immediately, PRN3; Yost photo
and Meritor logo also available immediately via NewsCom, 305-448-8411 or
http://www.newscom.com/cgi-bin/pub/pd/pdz?f=PRN/prnphotos&grid=2 or via
PressLink Online, 703-758-1740