ArvinMeritor Inc. has agreed to acquire the remaining 51% interest in its German joint venture, Zeuna Starker GmbH & Co. KG, a $600-million exhaust and emissions solutions company.
The purchase price is about $75 million, and the transaction is expected to close in the second quarter of fiscal year 2003.
ArvinMeritor will incorporate Zeuna Starker into its Light Vehicle Systems' (LVS) Air and Emissions Technologies A product group, effective Jan. 1.
Michael Bleidt, former Zeuna Starker executive vice president of sales and engineering, has been chosen to lead the A product group as its vice president and general manager. Bleidt will report to LVS' President Craig Stinson.
"Integrating Zeuna Starker into ArvinMeritor's A business creates a complete range of emissions solutions for our global automotive customers," said Stinson. "The strength of Zeuna Starker's technological expertise, combined with ArvinMeritor's lean manufacturing principles, further enhances ArvinMeritor's market-leading position. Michael's strong leadership skills, insight and expertise will be critical to successfully integrating the two emissions product teams, while maintaining a single-minded focus on customer satisfaction. I'm also confident that he will drive significant program management improvements and further strengthen our advanced engineering capabilities."
ArvinMeritor became a 49% partner in the Zeuna Starker joint venture in 1998.
ArvinMeritor Inc. is a premier $7-billion 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 related aftermarkets.
For more information, visit the company's web site at www.arvinmeritor.com.
The purchase price is about $75 million, and the transaction is expected to close in the second quarter of fiscal year 2003.
ArvinMeritor will incorporate Zeuna Starker into its Light Vehicle Systems' (LVS) Air and Emissions Technologies A product group, effective Jan. 1.
Michael Bleidt, former Zeuna Starker executive vice president of sales and engineering, has been chosen to lead the A product group as its vice president and general manager. Bleidt will report to LVS' President Craig Stinson.
"Integrating Zeuna Starker into ArvinMeritor's A business creates a complete range of emissions solutions for our global automotive customers," said Stinson. "The strength of Zeuna Starker's technological expertise, combined with ArvinMeritor's lean manufacturing principles, further enhances ArvinMeritor's market-leading position. Michael's strong leadership skills, insight and expertise will be critical to successfully integrating the two emissions product teams, while maintaining a single-minded focus on customer satisfaction. I'm also confident that he will drive significant program management improvements and further strengthen our advanced engineering capabilities."
ArvinMeritor became a 49% partner in the Zeuna Starker joint venture in 1998.
ArvinMeritor Inc. is a premier $7-billion 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 related aftermarkets.
For more information, visit the company's web site at www.arvinmeritor.com.
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