E-MAIL
ArvinMeritor, Inc.announced on Nov. 22, 2010 that its joint venture, Xuzhou Meritor Axle Co. Limited (XMAL), plans to invest an additional $17.3 million to expand its manufacturing capability and add a new 40,000 square meter production facility. The new facility will be adjacent to XMAL"s existing 69,300 square meter facility in Xuzhou, China.
"This significant investment reinforces our strategy to expand the off-highway business globally," said Tim Bowes, president of Industrial and Asia Pacific, ArvinMeritor. "With this investment, we will continue to strengthen our off-highway manufacturing and engineering capabilities to meet the expectations of our growing customer base in China and expand our leadership position in this market."Bowes said.
Early this year, the joint venture announced a $10 million investment. In total, the joint venture will invest $27.3 million in its off-highway business expansion in China in fiscal year 2010.
"With our long history in designing and manufacturing heavy-duty axles for commercial vehicle customers and the strong off-highway capabilities we have developed in China, we will continue to invest and be well prepared for the opportunities in the Chinese market." Bowes said.
About XMAL
Xuzhou Meritor Axle Co., Limited (XMAL), located in Xuzhou, China, is a joint venture established between ArvinMeritor and Xuzhou Construction Machinery Group (XCMG), the largest off-highway vehicle manufacturer in China. XMAL has been in existence since 1996, and is the largest independent off-highway axle producer in China. ArvinMeritor holds 60- percent equity share in the joint venture and XCMG holds 40 percent.
About ArvinMeritor
ArvinMeritor Inc. is a premier global supplier of a broad range of integrated systems, modules and components to original equipment manufacturers and the aftermarket for the transportation and industrial sectors. The company serves commercial truck, trailer and specialty original-equipment manufacturers and certain aftermarkets, and light vehicle manufacturers. ArvinMeritor marked its centennial anniversary in 2009, celebrating a long history of "forward thinking". ArvinMeritor common stock is traded on the New York Stock Exchange under the ticker symbol ARM.