ArvinMeritor CEO: Plan To Exit Auto-Part Production On Track

Date : 04/14/2010 @ 11:01AM
Source : Dow Jones News
Stock : Arvinmeritor, Inc. (ARM)
Quote : 19.53  0.0 (0.00%) @ 2:05AM

ArvinMeritor CEO: Plan To Exit Auto-Part Production On Track

Arvinmeritor (NYSE:ARM)
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ArvinMeritor Inc. (ARM) Chief Executive Chip McClure reiterated his plan to completely exit auto-part production by the end of the year.

The company has attracted "a great deal of interest" for its body-system business, which produces roof and door parts for automotive vehicles, McClure said following a speech in Detroit Wednesday.

"We don't have to rush," McClure said. "I feel confident we will be on track to complete the sale."

McClure is attempting to finish the final move in his strategy to flip ArvinMeritor to a major player in the commercial truck part making sector.

ArvinMeritor has had to split its time and resources between auto- and truck-part production.

The transformation comes at a time industry analysts are expecting truck production to begin to rebound after three consecutive years of production cutbacks.

-By Jeff Bennett, Dow Jones Newswires; Jeff.bennett@dowjones.com; 248 204 5542

 
 

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