ArvinMeritor Announces Start of Production at New Facility in Salonta, Romania
SALONTA, Romania, Jan. 31 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE: ARM) announced today the start of production at a new Light Vehicle Systems (LVS) facility in Salonta, Romania. This new plant, which occupies approximately 5,400 square meters of manufacturing space, will supply window regulators, cables, latches and actuators directly to Dacia, the largest vehicle manufacturer in Romania and part of the Renault Nissan group. "This new facility in Salonta represents a significant further investment by ArvinMeritor in Central Europe, and is in line with our targets on driving manufacturing in leading cost competitive countries wherever viable," said Aziz Aghili, vice president and general manager of the company's Body Systems group. "By locating our production directly in Romania we can minimize our operating costs, be exceptionally responsive to our local customer and create over 100 new jobs in the area." ArvinMeritor began producing components and systems in Central and Eastern Europe in 1992, with the opening of a door systems operation in Liberec, Czech Republic. The company's Romania facility represents the sixth operation to be established in this region. 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(TM) 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 integrates 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; 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. (Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )RELATED LINKS
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