Meritor Announces $1.4 Million Investment in Plainfield, Indiana
Remanufacturing Facility
TROY, Mich., Nov. 13, 2012 /PRNewswire/ -- Meritor, Inc.
(NYSE: MTOR) announced today that it plans to consolidate its North
American remanufacturing operations and create a center of
excellence in Plainfield, Ind. The
company expects to transfer production operations from its
remanufacturing plant in Mississauga,
Ontario Canada by March 31,
2013. At the same time, it plans to move Canadian customer
service and support to its Brampton,
Ontario facility.
As a result of these actions, Meritor plans to invest
approximately $1.4 million in its
Plainfield facility while creating
approximately 82 new jobs during 2012 and 2013. The company has
already invested more than $8 million
in process upgrades to its global operations in the past five
years, including $2.7 million earlier
this year in new equipment for its Plainfield plant which remanufactures
commercial truck components while preserving raw materials.
"We believe this investment will help us improve efficiency
while better serving our customers in today's competitive
landscape," said Doug Wolma, general
manager, Global Aftermarket Operations. "At the same time, this
move will strengthen our global remanufacturing footprint."
Meritor's global remanufacturing operations currently include
eight sites in five countries producing a substantial portfolio of
drivetrain and wheel-end components. More than 30,000 tons of metal
are recycled annually in Meritor's remanufacturing operations
worldwide, and the company recycles 90 percent of all waste from
its operations. More than 40,000 tons of cores, or original
components, are processed at Meritor remanufacturing facilities
annually.
About Meritor, Inc.
Meritor, Inc. is a leading global supplier of drivetrain,
mobility, braking and aftermarket solutions for commercial vehicle
and industrial markets. With more than a 100-year legacy of
providing innovative products that offer superior performance,
efficiency and reliability, the company serves commercial truck,
trailer, off-highway, defense, specialty and aftermarket customers
in more than 70 countries. Meritor is based in Troy, Mich., United
States, and is made up of approximately 10,000 diverse
employees who apply their knowledge and skills in manufacturing
facilities, engineering centers, joint ventures, distribution
centers and global offices in 19 countries. Common stock is traded
on the New York Stock Exchange under the ticker symbol MTOR. For
important information, visit the company's web site at
meritor.com.
Forward-Looking Statements
This press release contains statements relating to our future
results (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. SEC filings may
differ materially from those projected as a result of certain risks
and uncertainties, including but not limited to reduced production
for certain military programs and our ability to secure new
military programs as our primary military programs wind down by
design in future years; reliance on major original equipment
manufacturer ("OEM") customers and possible negative outcomes from
contract negotiations with our major customers, including failure
to negotiate acceptable terms in contract renewal
negotiations; our ability to successfully manage rapidly
changing volumes in the commercial truck markets and work
with our customers to adjust their demands in view of rapid changes
in production levels; global economic and market cycles and
conditions, including a slower than anticipated recovery from the
recent global economic crisis; availability and sharply rising
costs of raw materials, including steel, and our ability to manage
or recover such costs; our ability to manage possible adverse
effects on our European operations, or financing arrangements
related thereto, in the event one or more countries exit the
European monetary union; risks inherent in operating abroad
(including foreign currency exchange rates, implications of foreign
regulations relating to pensions and potential disruption of
production and supply due to terrorist attacks or acts of
aggression); rising costs of pension and other postretirement
benefits; the ability to achieve the expected benefits of
restructuring actions; the demand for commercial and specialty
vehicles for which we supply products; whether our liquidity will
be affected by declining vehicle productions in the future; OEM
program delays; demand for and market acceptance of new and
existing products; successful development of new products; labor
relations of our company, our 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 our 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; 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 our debt; our ability to continue to
comply with covenants in our financing agreements; our ability to
access capital markets; credit ratings of our 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, warranty and
recall claims; and possible changes in accounting rules; as well as
other substantial costs, risks and uncertainties, including but not
limited to those detailed herein and from time to time in our
Annual Report on Form 10-K for the year ended October 2, 2011 and from time to time in our
other filings with the SEC. See also the following portions of our
Annual Report on Form 10-K for the year ended October 2, 2011: Item 1. Business, "Customers;
Sales and Marketing"; "Competition"; "Raw Materials and Supplies";
"Employees"; "Environmental Matters"; "International Operations";
and "Seasonality; Cyclicality"; Item 1A. Risk Factors; Item 3.
Legal Proceedings; and Item 7. Management's Discussion and Analysis
of Financial Condition and Results of Operations. These
forward-looking statements are made only as of the respective dates
on which they were made, and we undertake 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.
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SOURCE Meritor, Inc.