XMAL Invests Additional $17.3 Million to Expand its Off-Highway Business in China
(Chinatrucks.com, Nov 23, 2010) Shanghai, China (Nov. 22, 2010) – ArvinMeritor, Inc. (NYSE: ARM) announced today that its joint venture, Xuzhou Meritor Axle Co. Limited (XMAL), plans to invest an additional $17.3 million to expand its manufacturing capability and add a new 40,000 square meter production facility. The new facility will be adjacent to XMAL’s existing 69,300 square meter facility in Xuzhou, China.
XMAL expands off-road transportation business
“This significant investment reinforces our strategy to expand the off-highway business globally,” said Tim Bowes, president of Industrial and Asia Pacific, ArvinMeritor. “With this investment, we will continue to strengthen our off-highway manufacturing and engineering capabilities to meet the expectations of our growing customer base in China and expand our leadership position in this market.” Bowes said.
Early this year, the joint venture announced a $10 million investment. In total, the joint venture will invest $27.3 million in its off-highway business expansion in China in fiscal year 2010.
“With our long history in designing and manufacturing heavy-duty axles for commercial vehicle customers and the strong off-highway capabilities we have developed in China, we will continue to invest and be well prepared for the opportunities in the Chinese market.” Bowes said.
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