Arvin and Magneti Marelli Enter Into Cooperation.COLUMBUS, Ind.--(BUSINESS WIRE)--July 8, 1998--Arvin Industries, Inc. (NYSE NYSE See: New York Stock Exchange :ARV ARV abbr. Bible American Revised Version ARV n abbr (= American Revised Version) → traducción americana de la Biblia ARV n abbr (= ) today announced that it has entered into a series of agreements with Magneti Marelli Magneti Marelli Holding S.p.A. is a subsidiary of Fiat Group and leader in developing and manufacturing systems, modules and high-technology components for the automotive industry with 25,000 employees and a turnover of 4 billion euro in 2005. SpA to streamline their auto component manufacturing and distribution activities. Terms were not disclosed. Arvin will sell Magneti Marelli its shares in a ride control manufacturing facility in Melfi, Italy. This plant makes struts and assemblies, primarily for the Fiat Punto. Arvin will retain its manufacturing plant in Asti, Italy, which produces both original equipment and replacement ride control products. Separately, Magneti Marelli, through its Brazilian affiliate Cofap, will transfer to Arvin the 60% shareholding in the Cofap-Arvin joint venture not already owned by Arvin. Cofap-Arvin is a manufacturer of original equipment exhaust products. Magneti Marelli will retain its separate exhaust operations in Brazil. Bill Hunt, Arvin President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said "We are pleased to expand our fine relationship with Magneti Marelli. This is an opportunity we want to build upon as we grow together. We are both going to see advantages in the exchange of shares in Italy and Brazil. In addition, we have entered into a replacement parts supply agreement which will provide opportunities for Arvin companies to work with Magneti Marelli in the distribution of exhaust and ride control parts. These agreements will enable each of us to improve utilization and focus on our core customers, serving them better." Magneti Marelli has industrial and R&D facilities in 18 countries, where automotive systems and components are manufactured in the areas of: engine control, electronic systems, lighting, thermal systems, exhaust systems, fuel delivery systems, rotating machines, electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). components, rear-view mirrors, shock absorbers Shock absorbers See: Circuit breakers and lubricants. Arvin Industries, Inc. is a global manufacturer of automotive components with 50 manufacturing facilities and 8 technical centers located in 16 countries. Arvin is a leading manufacturer of automotive exhaust systems and ride control products. Our replacement products are sold under various trademarks including Arvin, Maremont, Timax, ANSA ANSA - Advanced Network Systems Architecture and ROSI ROSI Return on Security Investment ROSI Repository of Student Information ROSI Rollergirls of Southern Indiana (Evansville, IN) ROSI Raytheon Optical Systems Incorporated ROSI Romanian Open Source and Free Software Initiative for exhaust systems; Gabriel shock absorbers; and StrongArm gas charged lift supports. For more information on Arvin Industries via the Internet, visit our Corporate Home Page at http://www.arvin.com or our Corporate News on the Net site at http://www.businesswire.com/cnn/arv.htm. For information via fax, please call our News On Demand service at 888-622-1161.
CONTACT: Arvin Industries
John Brown, 812/379-3389 (Press)
A.R. Sales, 812/379-3837 (Analysts)
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