05.10.2006 22:57:00
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ZF Meritor Files Antitrust Lawsuit Against Eaton
TROY, Mich., Oct. 5 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. 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 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 )
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