TROY, Mich. – Looking toward the remainder of the year, Meritor Automotive continues to expect a weakening truck market.

“We anticipate the North American heavy truck and trailer markets will soften about 15 per cent in the second half of fiscal 2000, as compared to the same period last year,” said CEO Larry Yost, unveiling results for the company’s latest quarter. European trailer markets are expected to drop another five to 10 per cent.

However, it’s not all bad news for the company. Meritor expects slightly higher light vehicle production levels in North America and Europe, and “moderately higher” medium- and heavy-duty truck volumes in Europe.

“For the second half of fiscal 2000, we anticipate strong financial performance and double-digit earnings per share growth,” Yost said. “Meritor’s recently announced agreement to merge with Arvin Industries, Inc. is very exciting for all of us. Combining the scale and strength of both Arvin and Meritor to create a world leader in the automotive supply industry solidly positions us to deliver superior value to our shareholders, customers, employees and the communities in which we operate.”

The company’s earnings per share were up 26 per cent and sales were up three per cent in the latest quarter, marking the 10th consecutive quarter of double-digit earnings growth.

For more information, look to www.meritorauto.com. n