ArvinMeritor unable to sell light vehicle systems business

By Lisa Kerner

Charlotte, N.C., Jan. 8 - ArvinMeritor, Inc. said that because of the challenging credit markets and volume weakness in its industry it no longer plans to sell its light vehicle systems business as a whole and will reorganize the business instead.

The LVS business group will be reorganized to include the body systems, chassis systems and wheels businesses.

ArvinMeritor said it is continuing to pursue a sale of the body systems business and is evaluating strategic alternatives for exiting the chassis systems business.

Former LVS president Phil Martens left the company to pursue other opportunities, ArvinMeritor said.

LVS body systems and LVS corporate staff will report to ArvinMeritor chief financial officer Jay Craig for an interim period.

Also, LVS chassis systems will report to Jim Donlon, executive vice president, and the wheels business will report to Mary Lehmann, senior vice president, strategic initiatives, and treasurer.

In November, ArvinMeritor announced it decided to sell, rather than spinoff, LVS in 2009.

ArvinMeritor, located in Troy, Mich., provides a range of integrated systems, modules and components to the motor vehicle industry.

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