ArvinMeritor (ARM) Signs Strategic Partnership with Yutong Group
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ArvinMeritor, Inc. (NYSE: ARM) has signed a strategic partnership with Yutong Group Co., Ltd. to supply drivetrain components for buses and coaches in China.
"We are proud to partner with Yutong, the largest producer of high-end buses and coaches in the China market," said Tim Bowes, vice president and managing director of Asia Pacific for ArvinMeritor. "We believe this new business will strengthen the existing partnership we have with Yutong, as well as expand ArvinMeritor's presence in Asia."
In addition to supplying premium non-drive and drive axles to Yutong, ArvinMeritor will now manufacture differential carriers and brake calipers at its facility in Wuxi, China, for application on Yutong's axles. The final product will be assembled at Yutong's plant in Zhenzhou, China. Production is expected to begin at the end of 2009.
As part of this partnership, ArvinMeritor and Yutong will also sell and distribute standard aftermarket service kits for its products.[SM]
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