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Parts maker ArvinMeritor to close 13 plants, eliminate 2,800 jobs

Parts maker ArvinMeritor to close 13 plants, eliminate 2,800 jobs

Auto parts supplier ArvinMeritor Inc. said Tuesday it would close 13 plants in North America and Europe and cut 2,800 jobs globally as part of a restructuring plan expected to cost $325 million (euro238.9 million).
The company said it will close nine plants in North America and four in Europe at a cost of 2,400 jobs. So far, it has only identified one plant for closure _ that one is in Frankfurt, Germany.
The parts supplier said 400 more jobs will be cut as part of global consolidations.
ArvinMeritor has 27,500 employees and more than 110 manufacturing facilities worldwide.
Carsten Reinhardt, a senior vice president of ArvinMeritor and president of its commercial vehicle systems, said in a conference call the company will create about 800 positions in what he called "low-cost sites," such as those in Mexico and Eastern Europe.
Details were released on the same day the Troy-based supplier announced its fiscal second-quarter earnings.
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On the Net:
http://www.arvinmeritor.com