Navistar, ArvinMeritor Announce Long-Term Supply Agreement
Thursday , July 23, 2009 08:00ET
WARRENVILLE, Ill., Jul 23, 2009 (BUSINESS WIRE) -- Navistar (NYSE: NAV) and ArvinMeritor, Inc. (NYSE: ARM) today announced that under the terms of a new long-term supply agreement, Meritor axles are now in standard position on International(R) medium-duty trucks and IC Bus(TM) brand school and commercial buses. Also under the terms of the agreement, ArvinMeritor gains additional standard axle positions on International's heavy-duty trucks. Terms of the agreement were not disclosed.
"In working with ArvinMeritor, we've selected a premier axle-brake supplier -- one which has been our standard Class 8 axle-brake supplier for more than 10 years," said Jack Allen, president of Navistar's North American Truck Group. "We're confident that our customers will be extremely pleased with the performance of the Meritor axle. Our customers can feel comfortable relying on Meritor for drivetrain specification assistance, rapid response to troubleshooting and quality after-the-sale support."
"This agreement represents a natural extension of the long-standing relationship between Navistar and ArvinMeritor," added Allen. "Both companies have aligned business goals focused on satisfying the end-user with quality products that exceed customer expectations. In addition, ArvinMeritor is uniquely positioned to support Navistar's aggressive growth strategy as it expands globally into new markets with a strong product portfolio."
"We are pleased to have the opportunity to expand our relationship with Navistar," said Carsten Reinhardt, president of ArvinMeritor's Commercial Vehicle Systems business. "With this new agreement, we are looking forward to supplying Navistar with the most reliable and technically advanced axles on the market today and will work hard to meet the expectations of Navistar's dealers and their customers."
Effective July 13, 2009, Meritor axles will now be standard equipment on International medium-duty trucks and IC Bus school buses and medium-duty trucks, in addition to Class 8 trucks.
ArvinMeritor will continue as Navistar's supplier on its portfolio of military applications for programs including Mine Resistant Ambush Protected (MRAP) vehicles, Tactical Support Vehicles (TSV), Military Commercial Off the Shelf (MilCOTS) -- the first element of Canada's Medium Support Vehicle System (MSVS) -- and Foreign Military Sales (FMS) through the U.S. military's Tank-automotive and Armaments Command (TACOM).
~ Safe to Position Here? ‹(•¿•)›
