DOW JONES NEWSWIRES
ArvinMeritor Inc. (ARM) said it would invest $57 million to
bolster its brake business in both Europe and China.
The auto-parts maker said it would invest $42 million in its
European brake operations, using the money to expand two current
product lines, develop new technology, expand performance testing,
fund manufacturing technology and enhance customer service. It
allotted $15 million to expand in Nanjing, China, with both a
technical center and manufacturing plant.
In its most recent quarterly results, ArvinMeritor narrowed its
loss on a jump in sales and better margins. The auto sector's
recovery in the U.S. and Europe has been improving the company's
results lately.
Shares closed Monday at $14.64, up 4.3%, and weren't active in
after-hours trading. The stock has risen 31% so far this year
through the close, outperforming the wider market.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com