TRW Automotive Aftermarket and ArvinMeritor Announce Shock Absorber Distribution Joint Venture
PARIS, Oct. 15 - Equip'Auto - TRW Automotive Aftermarket, a business of TRW Automotive Holdings Corp. (NYSE:TRW), has today entered into an agreement to create a Joint Venture with ArvinMeritor (NYSE:ARM) to distribute Gabriel and TRW branded shock absorber ranges for the European independent aftermarket. The intention is for the Joint Venture to begin operation and distribution in January 2008.
Francois Augnet, vice president for TRW Automotive Aftermarket Europe and Asia Pacific, said: "Shock absorbers are an integral element of our core chassis portfolio. We already offer a comprehensive TRW branded range to our European customers and are committed to enhancing it with the Gabriel programme to maintain and develop our leading chassis position in the European aftermarket."
Augnet continued: "By combining the strengths of ArvinMeritor's engineering and manufacturing competencies and the Gabriel brand name with TRW's extensive sales and distribution network we are confident that we can roll out successful shock absorber programmes for the European independent aftermarket."
With the recent sale of its European exhaust aftermarket business, ArvinMeritor has sharpened its focus on original equipment manufacturer (OEM) systems engineering. This includes a renewed emphasis on its global ride control business.
With the Joint Venture, TRW and ArvinMeritor will jointly control the future marketing, sales and distribution of the Gabriel and TRW aftermarket programmes throughout Western, Central and Eastern Europe.
Marlen Silverii, general manager for ArvinMeritor's global ride control aftermarket business added: "This is a great example of how both partners can share in the investment, as well as reap the benefits. The Gabriel aftermarket product line is technically very strong, and when partnered with TRW's growing aftermarket presence, it will offer our aftermarket customers a strong chassis alternative."
About TRW
TRW Automotive Aftermarket is a leading provider of high quality replacement parts, service, diagnostics and technical support to both the independent aftermarket (IAM) and the vehicle manufacturer service (VMS) channels.
About TRW
With 2006 sales of $13.1 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 28 countries and employs approximately 63,800 people worldwide. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. TRW Automotive news is available on the Internet at http://www.trwauto.com/.
About ArvinMeritor
ArvinMeritor, Inc. is a premier 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 certain aftermarkets.
Headquartered in Troy, Mich., ArvinMeritor employs approximately 19,000 people 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 www.arvinmeritor.com.
Source: TRW Automotive Holdings Corp.
CONTACT:
Louise Colledge
TRW Automotive Aftermarket Europe
+44-121-5065440
Malte Raddatz
ArvinMeritor
+49-175-368-3001
Web site: http://www.trwauto.com/
