ArvinMeritor Acquires All Remaining Interest In German Exhaust Joint Venture.

ArvinMeritor, Inc. said that it has agreed to acquire the remaining 51-percent interest in its German joint venture, Zeuna Starker GmbH & Co. KG, an exhaust and emissions solutions company that has about $600 million in annual revenue. The purchase price is approximately $75 million, and the transaction is expected to close in the second quarter of fiscal year 2003.

ArvinMeritor said it will incorporate Zeuna Starker into its Light Vehicle Systems' (LVS) Air and Emissions Technologies (A&ET) product group, effective Jan. 1, 2003. Michael Bleidt, former Zeuna Starker executive vice president, Sales and Engineering, has been chosen to lead the A&ET product group as its vice president and general manager. Bleidt will report to LVS' President Craig Stinson.

ArvinMeritor became a 49-percent partner in the Zeuna Starker joint venture in 1998. Since that time, the relationship has generated several accomplishments, including: Global sourcing of Mercedes-Benz M-Class complete emissions system; Developing technologies to address heavy-duty and light vehicle diesel emissions, including systems targeted to meet future stringent diesel emissions regulations; Providing a collaborative exhaust system solution for Ford's U231 program (Lincoln Aviator); and Major market penetration and new contracts with the leading European OEMs, including Mercedes, BMW, VW, Fiat, Volvo, Ferrari, Opel and Alfa Rome.