ArvinMeritor to keep growing
TROY, Mich. – ArvinMeritor, the new (U.S.) $7.5-billion global automotive supplier created by the merger of Meritor Automotive and Arvin Industries, marked the historic launch of its operations last month by commencing trading on the New York Stock Exchange and promising more rapid growth.
“We’re the 11th largest automotive supplier today and our goal is to be one of the top five (automotive suppliers). We really need to be a $15 billion dollar company and we need to do that in the next five years,” said Larry Yost, ArvinMeritor chairman and CEO at a recent press conference. Yost added that the new company is committing itself to delivering annual top-line growth of 10 per cent and earnings per share growth of between 15 and 18 per cent.
Bill Hunt, ArvinMeritor’s vice -chairman and president, says the growth will come from capitalizing on the complementary product lines and technological expertise brought to the table by the two companies. He cited several opportunities among the company’s 11 major product areas that show immediate promise for the commercial truck market. n
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