TROY, Mich., March 16, 2011 /PRNewswire-FirstCall/ --
ArvinMeritor, Inc. today announced it will change its ticker symbol
on the New York Stock Exchange from "ARM" to "MTOR,"
effective at the start of trading on March
30, 2011. The CUSIP number for the common stock will change
from 043353 10 1 (ARM) to 59001K 10 0 (MTOR).
The ticker symbol change coincides with the company's official
name change at that time from "ArvinMeritor" to "Meritor" to
reflect the completion of a multi-year transformation to focus
entirely on commercial vehicle and industrial markets
worldwide.
"The Meritor name is recognized in commercial vehicle and
industrial markets around the world," said Chip McClure, chairman, CEO and president.
"Meritor has established strong brand equity that our commercial
vehicle and industrial customers associate with performance,
efficiency and reliability. Changing the company's name back to
Meritor gives us the opportunity to leverage the strong reputation
we've developed, and to build on it as we continue to define
ourselves as the recognized leader in drivetrain, mobility, braking
and aftermarket solutions."
The company initially assumed the name Meritor following the
spin-off from Rockwell International Corp. in 1997. It remained
Meritor until the merger with Arvin Industries, Inc. in 2000. Since
that time, the company has marketed and sold product under the
Meritor brand.
Forward-Looking Statements
This press release contains statements relating to future
results of the company (including certain projections and business
trends) that are "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995.
Forward-looking statements are typically identified by words or
phrases such as "believe," "expect," "anticipate," "estimate,"
"should," "are likely to be," "will" and similar expressions.
Actual results may differ materially from those projected as a
result of certain risks and uncertainties, including but not
limited to global economic and market cycles and conditions,
including the recent global economic crisis; the demand for
commercial, specialty and light vehicles for which the company
supplies products; risks inherent in operating abroad (including
foreign currency exchange rates and potential disruption of
production and supply due to terrorist attacks or acts of
aggression); whether our liquidity will be affected by declining
vehicle production volumes in the future; reduced production for
certain military programs and the return of volumes of selected
long-term military contracts to more normalized levels;
availability and sharply rising cost of raw materials, including
steel and oil; OEM program delays; demand for and market acceptance
of new and existing products; successful development of new
products; reliance on major OEM customers; labor relations of the
company, its suppliers and customers, including potential
disruptions in supply of parts to our facilities or demand for our
products due to work stoppages; the financial condition of the
company's suppliers and customers, including potential
bankruptcies; possible adverse effects of any future suspension of
normal trade credit terms by our suppliers; potential difficulties
competing with companies that have avoided their existing contracts
in bankruptcy and reorganization proceedings; successful
integration of acquired or merged businesses; the ability to
achieve the expected annual savings and synergies from past and
future business combinations and the ability to achieve the
expected benefits of restructuring actions; the ability to achieve
anticipated or continued cost savings from reduction actions;
success and timing of potential divestitures; potential impairment
of long-lived assets, including goodwill; potential adjustment of
the value of deferred tax assets; competitive product and pricing
pressures; the amount of the company's debt; the ability of the
company to continue to comply with covenants in its financing
agreements; the ability of the company to access capital markets;
credit ratings of the company's debt; the outcome of existing and
any future legal proceedings, including any litigation with respect
to environmental or asbestos-related matters; the outcome of actual
and potential product liability and warranty and recall claims;
rising costs of pension and other post-retirement benefits and
possible changes in pension and other accounting rules; as well as
other risks and uncertainties, including but not limited to those
detailed from time to time in filings of the company with the SEC.
These forward-looking statements are made only as of the date
hereof, and the company undertakes no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise, except as otherwise
required by law.
(Logo: http://photos.prnewswire.com/prnh/20010524/ARVINLOGO
)
SOURCE ArvinMeritor, Inc.