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ArvinMeritor to Develop On-Demand Power Steering Systems
Stuttgart, Germany (ots/PRNewswire) - ArvinMeritor, Inc. (NYSE: ARM) today announced plans for its Light Vehicle Systems (LVS) business group to develop and commercialize a series of hydraulically-coupled, electric power steering systems designed to outperform other electric power steering (EPS) systems. ArvinMeritor made the announcement during its first European appearance as an exhibitor at the annual Vehicle Dynamics Expo in Stuttgart.
"ArvinMeritor's plan to grow and strengthen its light vehicle undercarriage product portfolio includes full integration of all systems impacting chassis performance," said Cesar Ungaretti, senior director of LVS Undercarriage Systems for ArvinMeritor. "The development of this patented power steering technology, which has generated significant interest from our customer base, is directly in line with the company's strategy to design and deliver complete undercarriage systems. In addition to the hydraulically-coupled, electric power steering system, our suspension module engineering team is developing other proprietary advanced products including light vehicle air suspension, active roll control and adaptive damping systems."
This on-demand power steering system, which is not constrained to packaging on the rack, will provide improved vehicle control, quicker steering response and measurable fuel savings for a full range of vehicles. Consuming only the power it needs, when it needs it, the system is capable of adding functionality such as active return, autonomous parking and lane departure warning.
ArvinMeritor acquired the patents for the hydraulically-coupled, electric power steering systems from Techco Corp., a private intellectual property company that invents and licenses controlled-theory automotive steering applications. ArvinMeritor and Techco Corp. will co-develop the system.
ArvinMeritor's Light Vehicle Systems (LVS) business group posted US$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 US$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 /.
This press release also 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.
Web site: http://www.arvinmeritor.com
ots Originaltext: ArvinMeritor, Inc.
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