ZF Meritor Files Antitrust Lawsuit Against Eaton
05 Ottobre 2006 - 11:53PM
PR Newswire (US)
Takes Stand to Protect Fair Competition TROY, Mich., Oct. 5
/PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE:ARM) announced
today that ZF Meritor LLC, a venture between ArvinMeritor and ZF
Friedrichshafen AG, and Meritor Transmission Corporation, an
ArvinMeritor company, have filed an antitrust lawsuit against Eaton
Corporation (NYSE:ETN) in the United States District Court for the
District of Delaware. The Companies are seeking an injunction
prohibiting Eaton from engaging in anticompetitive conduct in the
markets for heavy-duty truck transmissions and have asked the court
to award treble damages, as authorized by federal antitrust laws.
The lawsuit alleges that Eaton has engaged in anticompetitive
conduct that has harmed competition in the markets for heavy-duty
truck transmissions by limiting consumer choice, eliminating
competitive checks on pricing and suppressing innovation. The
lawsuit also alleges Eaton's conduct forced ZF Meritor, though
still a legal entity today, to cease operations. Commenting on the
lawsuit, Chip McClure, chairman, CEO and president of ArvinMeritor
said, "It is unfortunate that we have reached this point. We have
filed this lawsuit to protect competition, our shareholders, and
heavy-duty truck buyers. In a market without competition,
innovation languishes, choice evaporates and prices increase. We
are committed to protecting the interests of our loyal customers
who have depended on ArvinMeritor to provide advanced technologies,
exceptional products and outstanding service." To view a copy of
the lawsuit, please visit
http://www.arvinmeritor.com/faircompetition. About ArvinMeritor
ArvinMeritor, Inc. is a premier global supplier of a broad range of
integrated systems, modules and components to the motor vehicle
industry. The company serves light vehicle, commercial truck,
trailer and specialty original equipment manufacturers and certain
aftermarkets. Headquartered in Troy, Mich., ArvinMeritor employs
approximately 29,000 people at more than 120 manufacturing
facilities in 25 countries. ArvinMeritor common stock is traded on
the New York Stock Exchange under the ticker symbol ARM. For more
information, visit the company's Web site at:
http://www.arvinmeritor.com/. About ZF ZF is a leading worldwide
supplier of driveline and chassis technology. Headquartered in
Friedrichshafen, Germany, ZF is among the 15 largest automotive
suppliers in the world. The company employs approximately 54,000 at
122 locations in 26 countries, and totaled sales of $13.5 billion
in 2005. ZF operates a large manufacturing network in North
America, combined with global research and development
capabilities, to provide advanced technology to the region. The ZF
Group North American Operations Headquarters and Technical Center
is located in Northville, Mich., USA. (Logo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )
http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO DATASOURCE:
ArvinMeritor, Inc. CONTACT: Lin Cummins, +1-248-435-7112, or , or
D. Mike Pennington, +1-248-435-1933, or , or Investor Inquiries,
Terry Huch, +1-248-435-9426, or , all of ArvinMeritor, Inc.; or
Bryan Johnson of ZF Group North American Operations,
+1-734-582-8011, or Web site: http://www.arvinmeritor.com/
http://www.arvinmeritor.com/faircompetition Company News On-Call:
http://www.prnewswire.com/comp/762401.html
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