DETROIT, Mich. — Parts maker ArvinMeritor enjoyed a strong second quarter, despite economic troubles and a sluggish truck market in the US.
The company was able to post a quarterly profit due to aggressive cost cutting. The Commercial Vehicle Systems division increased EBITDA margins by 1.5% compared to the same period last year, despite the downturn in truck sales.
ArvinMeritor posted a Q2 profit of US$20 million, compared to a loss of US$94 million during the same quarter last year. Revenue was up from US$1.63 billion a year ago to US$1.78 billion.
At the Mid-America Trucking Show in March, ArvinMeritor officials claimed the company was weathering the storm by diversifying its product line and focusing on emerging markets outside the US.
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