The annual report summarizes ArvinMeritor's fiscal year 2006. It discusses changes in the automotive industry landscape requiring the company to change. The company divested certain businesses, improved costs through restructuring, and established new operations in China. The company aims to expand its presence in emerging global markets and continue its Performance Plus initiative to improve operations and commercial excellence.
Rane (Madras): Buy at CMP and add on dips to Rs274-Rs295IndiaNotes.com
The Automobile and auto ancillaries space is on the verge of exciting times. RML is well placed to capitalize on these opportunities. Investors could look at buying RML at the CMP (Rs336.35) and add on dips in Rs274-295 band for a target of Rs442 over 2-3 quarters.
S CUBE Trans Continental Group is an ISO 9001:2008 certified logistics company founded in 2013 that provides specialized global logistics services. It focuses on project forwarding, heavy lift cargo transport, and multi-modal freight forwarding between continents. The company aims to cater to the logistics needs of sectors like power, oil and gas, automotive, and infrastructure. It takes a consultative approach to help clients optimize logistics costs through audits. S CUBE is led by founder Shankar Chatterjee and aims to become a niche global multi-modal transport operator through diversification and acquisitions while maintaining compliance and local expertise.
The document discusses Singapore Airlines (SIA), the national carrier of Singapore. It provides background on SIA, noting it was founded in 1972 and has grown to become one of the largest airlines in the world. SIA's mission is to provide high quality air transportation and maximize returns for shareholders and employees. The document then analyzes SIA's strategic management process, discussing its organizational structure, marketing capabilities, research and development, and past objectives and strategies. It also includes a SWOT analysis and recommendations. Key statistics show SIA is struggling to retain regular customers and suffered losses despite increasing customer numbers.
Consolidated Automotive was established in 1995 in the UAE and has become a leading automobile dealer. It handles a diverse portfolio of car brands and has offices across the Middle East and GCC. The company specializes in trading various types of vehicles, from economy to luxury cars, SUVs, and light commercial vehicles. It ensures high-quality project execution through a team of trained professionals and an extensive e-commerce infrastructure. In a short time, Consolidated Automotive has become a market leader in the commercial vehicle segment through promotional activities and after-sales services.
This document provides a summary of Hyundai Motor Company's 2006 annual report. It discusses Hyundai's financial highlights for 2006 including increased sales, net income, total assets, and shareholder equity compared to 2004-2005. It also discusses increased earnings per share and dividends per share. The letters from the Chairman and Vice Chairman outline Hyundai's goals to become a global leader in the automotive industry through customer-focused management and sustainable global operations. They highlight achievements in quality, brand value, and expanding global production facilities.
CJS Securities – New Ideas for the New Year Conference Hillenbrand_IR
Hillenbrand is a global diversified industrial company comprised of two operating platforms: Process Equipment Group and Batesville. Process Equipment Group represents approximately two-thirds of revenue and manufactures mission critical equipment for industries like plastics, chemicals and food. It has a track record of strong financial performance with mid to high single digit organic revenue growth and expanding margins. Batesville is the North American leader in funeral products. Overall, Hillenbrand has demonstrated consistent revenue growth through acquisitions and organic expansion in attractive end markets driven by long term mega trends.
This document contains the resume of Vanish Ahluwalia, who has over 20 years of experience in international logistics, shipping, and supply chain management. He is currently the Senior General Manager and Head of Corporate Communication at Allcargo Logistics Ltd., where he is responsible for managing operations, sales, marketing, and business growth across multiple regions in India. Prior to this role, he held leadership positions at several other logistics and shipping companies, including Adani Logistics, K Line, P&O Nedlloyd, and TATA NYK Transport Systems. He has expertise in areas such as freight forwarding, customs clearance, warehousing, and transportation services.
Rane (Madras): Buy at CMP and add on dips to Rs274-Rs295IndiaNotes.com
The Automobile and auto ancillaries space is on the verge of exciting times. RML is well placed to capitalize on these opportunities. Investors could look at buying RML at the CMP (Rs336.35) and add on dips in Rs274-295 band for a target of Rs442 over 2-3 quarters.
S CUBE Trans Continental Group is an ISO 9001:2008 certified logistics company founded in 2013 that provides specialized global logistics services. It focuses on project forwarding, heavy lift cargo transport, and multi-modal freight forwarding between continents. The company aims to cater to the logistics needs of sectors like power, oil and gas, automotive, and infrastructure. It takes a consultative approach to help clients optimize logistics costs through audits. S CUBE is led by founder Shankar Chatterjee and aims to become a niche global multi-modal transport operator through diversification and acquisitions while maintaining compliance and local expertise.
The document discusses Singapore Airlines (SIA), the national carrier of Singapore. It provides background on SIA, noting it was founded in 1972 and has grown to become one of the largest airlines in the world. SIA's mission is to provide high quality air transportation and maximize returns for shareholders and employees. The document then analyzes SIA's strategic management process, discussing its organizational structure, marketing capabilities, research and development, and past objectives and strategies. It also includes a SWOT analysis and recommendations. Key statistics show SIA is struggling to retain regular customers and suffered losses despite increasing customer numbers.
Consolidated Automotive was established in 1995 in the UAE and has become a leading automobile dealer. It handles a diverse portfolio of car brands and has offices across the Middle East and GCC. The company specializes in trading various types of vehicles, from economy to luxury cars, SUVs, and light commercial vehicles. It ensures high-quality project execution through a team of trained professionals and an extensive e-commerce infrastructure. In a short time, Consolidated Automotive has become a market leader in the commercial vehicle segment through promotional activities and after-sales services.
This document provides a summary of Hyundai Motor Company's 2006 annual report. It discusses Hyundai's financial highlights for 2006 including increased sales, net income, total assets, and shareholder equity compared to 2004-2005. It also discusses increased earnings per share and dividends per share. The letters from the Chairman and Vice Chairman outline Hyundai's goals to become a global leader in the automotive industry through customer-focused management and sustainable global operations. They highlight achievements in quality, brand value, and expanding global production facilities.
CJS Securities – New Ideas for the New Year Conference Hillenbrand_IR
Hillenbrand is a global diversified industrial company comprised of two operating platforms: Process Equipment Group and Batesville. Process Equipment Group represents approximately two-thirds of revenue and manufactures mission critical equipment for industries like plastics, chemicals and food. It has a track record of strong financial performance with mid to high single digit organic revenue growth and expanding margins. Batesville is the North American leader in funeral products. Overall, Hillenbrand has demonstrated consistent revenue growth through acquisitions and organic expansion in attractive end markets driven by long term mega trends.
This document contains the resume of Vanish Ahluwalia, who has over 20 years of experience in international logistics, shipping, and supply chain management. He is currently the Senior General Manager and Head of Corporate Communication at Allcargo Logistics Ltd., where he is responsible for managing operations, sales, marketing, and business growth across multiple regions in India. Prior to this role, he held leadership positions at several other logistics and shipping companies, including Adani Logistics, K Line, P&O Nedlloyd, and TATA NYK Transport Systems. He has expertise in areas such as freight forwarding, customs clearance, warehousing, and transportation services.
Symphony is the leading company in India in the air-coolers business and commands ~50% market share in the organized segment.
We like companies that have leadership position or are amongst top 3 in their respective industries as it is reflective of the quality of management, their ability to outgrow competition and with leadership position the companies also get advantages of scale, brand recognition, etc.
Consider this, while the company commands 50% market share, it accounts for ~70% of the profitability of the industry. Thus, as mentioned above, the company clearly has the advantage of scale and brand recognition enabling it to generate much higher profitability than its competitors.
Besides, the company is debt free with surplus cash to the tune of 150 crores (invested in various debt schemes) and only 80-90 crores has been employed in the core business with return in excess of 95% on the capital employed.
Atul Auto Ltd is an Indian manufacturer of 3-wheeled commercial vehicles. It produces diesel and CNG powered 3-wheelers for passenger and cargo transport. Over the past 5 years, Atul Auto has grown its annual vehicle sales from 27,000 to 32,040, operating profits from Rs. 27.55 crore to Rs. 40.09 crore, and net profits from Rs. 15.59 crore to Rs. 25.92 crore. The company has expanded its nationwide dealership network and manufacturing capacity. Atul Auto is recommended as an investment based on its financial growth, market expansion, and potential in the growing Indian 3-wheeler industry.
Logistics Executive Group - CEO Executive Series - February 2014Darryl Judd
WELCOMING FINANCE TO THE SUPPLY CHAIN FOLD
With supply chain and logistics moving from a back of
house function to its current role as a major strategic contributor, organisations are under pressure to deliver robust cash strategies that supports the growth and stakeholder objectives, thus has evolved the role of Supply
Chain Finance writes Darryl Judd, COO of the Logistics Executive Group
This document provides an overview of Conoil Plc, a Nigerian oil marketing company. It discusses the company's history, business units, mission, vision, and financial highlights. Specifically:
- Conoil began operations in 1927 and was incorporated in 1960, listing on the Nigerian Stock Exchange in 1989. It has various business units including retail, aviation, lubricants, and specialized products.
- The company's mission is to be the industry's flagship, offering world-class products and services. Its vision is to be Africa's leading petroleum marketing company.
- Financial highlights from 2017 show revenue of ₦115.5 billion, profit before tax of ₦2.3 billion,
TAN CHONG MOTOR HOLDINGS BHD
History and Background
SWOT Analysis,
Board of Directors
<div dir="ltr">TAN CHONG MOTOR HOLDINGS BHD<br>History and Background<br>SWOT Analysis,<br>Board of Directors<br><br></div>
1) In 2004, Tata Motors acquired Daewoo Commercial Vehicle Company of South Korea, renaming it Tata Daewoo Commercial Vehicle Company.
2) There was initial uncertainty from Daewoo unionists about being acquired by an Indian company. However, under Tata's management focusing on ethical business practices and tripartite cooperation, Tata Daewoo has seen strong growth and success.
3) Key factors in Tata Daewoo's turnaround include maintaining the Daewoo brand, appointing a Korean CEO, focusing on all stakeholders, and innovative new truck models. Tata Daewoo is now the second largest commercial vehicle maker in South Korea.
FAUJI FERTILIZER COMPANY produces urea and DAP fertilizers. The company has a contribution margin of 60% and break-even sales of Rs. 5,206,1997. It currently has sales of Rs. 88,154,698 and a margin of safety of Rs. 36,092,701, indicating it is profitable and would need a sales decrease of over Rs. 36 million before reaching a loss-making position.
Real Estate Investment in Kuwait | leading investment Holding companyactionkuwait123
Action Group Holdings (K.S.C.C.) (AGH) is a private Kuwait-based holding company established in 1998. With financial interests in both private and public companies, the Group also invests significantly in alternative investments such as real estate and private equity.
Tata Motors acquired Daewoo Commercial Vehicles of Korea in 2004. The acquisition gave Tata Motors access to Daewoo's advanced technology and products for heavy commercial vehicles. It also allowed Tata Motors to enter new international markets. Tata Motors worked hard to integrate Daewoo and address employees' concerns by communicating Tata's philosophy, respecting Korean culture, and keeping Daewoo executives in place. The acquisition has been successful, with Daewoo launching new products, doubling exports, and increasing market share in Korea and India.
This was a proposal for a business plan for a company that I had once worked with that wanted to develop a long term business plan. I had worked with this company on TQM back in the 90's and they asked me to submit a proposal to help develop a business plan.
1. The document provides an overview of AL-HAJ FAW Motors, a joint venture between AL-HAJ Group and Chinese automaker FAW. It details the company's expansion in Pakistan from importing vehicles to establishing local assembly operations.
2. AL-HAJ FAW initially entered Pakistan by importing FAW trucks and gained a market share. It then invested $1 billion to set up an assembly plant in Karachi to locally produce vehicles at lower costs.
3. The company focuses on providing strong after-sales service through dealers nationwide and transferring Chinese technology to Pakistan. It aims to change perceptions of Chinese vehicles and provide quality, reliable transportation options.
FAW China is a Chinese state-owned automaker founded in 1953 with over 100,000 employees. It has a joint venture with AL-HAJ Group called AL-HAJ FAW Motors established in 2006 to distribute FAW vehicles in Pakistan. AL-HAJ FAW Motors has expanded from importing complete built-up trucks to establishing an assembly plant in 2010, creating over 1,500 jobs. The company focuses on high quality, reliable, economical trucks and has grown to become the second largest truck seller in Pakistan through expanding its dealership network and investing in customer service.
The automobile sector in India has become the fourth largest in the world. Vehicle sales are increasing rapidly at 9.5% annually. Renault is a French automaker established in 1899 with a 4% market share in India. In 2017, Renault launched the Captur compact SUV targeting professionally educated 25-40 year olds. It positions the Captur as a luxurious SUV at the price of a sedan with convenient handling and mileage.
Signature Airlines had a challenging first year under new management but showed improvements, especially in the fourth quarter. While the company was unable to turn a profit for the full year, strategic changes such as adding new routes, upgrading aircraft, and increasing marketing budgets helped revenue grow substantially in Q4. Looking ahead, Signature Airlines aims to continue optimizing operations and expanding into profitable markets to achieve sustainable growth.
This is a sample valuation of Apollo Tyres Pvt Ltd conducted by Precisial Global Business Services OPC Pvt Ltd. Figures and assumptions have been extrapolated from available public information. The sample report should not be used for any investment related purpose. For details, pls contact us on the address mentioned in the document
Trafigura's financial results for the first half of 2014 show:
- Group turnover of $63.8 billion, up 3% from the previous year.
- Gross profit of $960.8 million, unchanged from the previous year.
- Net profit of $469.7 million, up 24% from the previous year.
- Oil and petroleum products volumes increased 7% and non-ferrous and bulk volumes increased 67% compared to the previous year.
- Investments in infrastructure assets like ports and terminals in Brazil, the US, Peru and Colombia are expected to drive future growth.
Tata Motors acquired Jaguar Land Rover from Ford Motor Company in 2008 for $2.3 billion. Tata conducted extensive due diligence to evaluate JLR's finances, human resources, and culture before the acquisition. Tata had the financial resources for the acquisition through a $3 billion bridge loan, and planned to raise $2.3-2.4 billion through equity offerings to refinance the loan. The acquisition provided strategic benefits for Tata, including expanding into new global markets, gaining access to technology and brands, and reducing dependence on the Indian market. However, integrating JLR also presented cultural and operational challenges.
ABF Group (HR Manager Contact - Wilson, 9845684754)Wilson M
The ABF Group is a strong entity having operations in India,China & Middle East. It has diverse businesses such as Shipping & Logistics, Freight Forwarding, Leather Tanning, Heavy Steel Fabrication and Engineering , Steel Trading and many more.
Nissan plays a leading role in the global automotive industry and aims to optimize mobility worldwide through innovation. The company is committed to sustainable, profitable growth through its mid-term business plan Nissan Power 88. This plan accelerates growth by expanding business globally and providing relevant products. Nissan strategically invests in focus areas and growing markets through new plants, brands like Datsun, and partnerships. It also pursues innovation through research centers developing technologies like autonomous driving and connected vehicles. Nissan communicates transparently with shareholders through investor briefings and aims to increase understanding of its long-term vision and strategies.
Total Manufacturing Excellence Conference - EqyptSyed Ashar Ali
This document provides information about the "Total Manufacturing Excellence" conference, including details about speakers, topics, and schedule. Some of the key points:
- The conference will take place November 18-19, 2012 in Cairo, Egypt and focus on strategies and techniques for continuous improvement in manufacturing operations and production.
- Expert speakers will provide insights on topics like strategic acquisitions, total productive maintenance, cost reduction methodologies, quality and production efficiencies, and more.
- An interactive workshop on lean manufacturing will be led by Mike Denison and address topics such as lean principles, lean culture, operational excellence, and lean six sigma.
- The conference is aimed at sharing best practices for implementing latest
The Southwest California Legislative Council opposes Proposition 30, which would increase sales and income taxes to fund education. If passed, it would raise the sales tax rate to 7.5% and create three new high-income tax brackets of 10.3%, 11.3%, and 12.3% for taxpayers earning over $250,000, $300,000, and $500,000 respectively. The Council argues this will negatively impact businesses and is an overreliance on high-income taxpayers. Opponents also note California's budget issues stem from overspending, not lack of revenue. Supporters argue the tax hike is needed to fund education and avoid deeper cuts.
The document discusses uncertainty in the housing market and its impact on sales in July. Key points:
1) Sales in the region were down 10% month-over-month and 4% from last July, with some cities like Hemet and Murrieta seeing even steeper declines.
2) Uncertainty appears to have caused the housing market to weaken earlier than usual, with the slowdown typically happening in September rather than July.
3) Prices held steady month-over-month despite the sales decline. Inventory rose slightly and properties stayed on the market longer.
4) The author expects continued uncertainty through the November election and for the housing market performance to remain unclear.
Symphony is the leading company in India in the air-coolers business and commands ~50% market share in the organized segment.
We like companies that have leadership position or are amongst top 3 in their respective industries as it is reflective of the quality of management, their ability to outgrow competition and with leadership position the companies also get advantages of scale, brand recognition, etc.
Consider this, while the company commands 50% market share, it accounts for ~70% of the profitability of the industry. Thus, as mentioned above, the company clearly has the advantage of scale and brand recognition enabling it to generate much higher profitability than its competitors.
Besides, the company is debt free with surplus cash to the tune of 150 crores (invested in various debt schemes) and only 80-90 crores has been employed in the core business with return in excess of 95% on the capital employed.
Atul Auto Ltd is an Indian manufacturer of 3-wheeled commercial vehicles. It produces diesel and CNG powered 3-wheelers for passenger and cargo transport. Over the past 5 years, Atul Auto has grown its annual vehicle sales from 27,000 to 32,040, operating profits from Rs. 27.55 crore to Rs. 40.09 crore, and net profits from Rs. 15.59 crore to Rs. 25.92 crore. The company has expanded its nationwide dealership network and manufacturing capacity. Atul Auto is recommended as an investment based on its financial growth, market expansion, and potential in the growing Indian 3-wheeler industry.
Logistics Executive Group - CEO Executive Series - February 2014Darryl Judd
WELCOMING FINANCE TO THE SUPPLY CHAIN FOLD
With supply chain and logistics moving from a back of
house function to its current role as a major strategic contributor, organisations are under pressure to deliver robust cash strategies that supports the growth and stakeholder objectives, thus has evolved the role of Supply
Chain Finance writes Darryl Judd, COO of the Logistics Executive Group
This document provides an overview of Conoil Plc, a Nigerian oil marketing company. It discusses the company's history, business units, mission, vision, and financial highlights. Specifically:
- Conoil began operations in 1927 and was incorporated in 1960, listing on the Nigerian Stock Exchange in 1989. It has various business units including retail, aviation, lubricants, and specialized products.
- The company's mission is to be the industry's flagship, offering world-class products and services. Its vision is to be Africa's leading petroleum marketing company.
- Financial highlights from 2017 show revenue of ₦115.5 billion, profit before tax of ₦2.3 billion,
TAN CHONG MOTOR HOLDINGS BHD
History and Background
SWOT Analysis,
Board of Directors
<div dir="ltr">TAN CHONG MOTOR HOLDINGS BHD<br>History and Background<br>SWOT Analysis,<br>Board of Directors<br><br></div>
1) In 2004, Tata Motors acquired Daewoo Commercial Vehicle Company of South Korea, renaming it Tata Daewoo Commercial Vehicle Company.
2) There was initial uncertainty from Daewoo unionists about being acquired by an Indian company. However, under Tata's management focusing on ethical business practices and tripartite cooperation, Tata Daewoo has seen strong growth and success.
3) Key factors in Tata Daewoo's turnaround include maintaining the Daewoo brand, appointing a Korean CEO, focusing on all stakeholders, and innovative new truck models. Tata Daewoo is now the second largest commercial vehicle maker in South Korea.
FAUJI FERTILIZER COMPANY produces urea and DAP fertilizers. The company has a contribution margin of 60% and break-even sales of Rs. 5,206,1997. It currently has sales of Rs. 88,154,698 and a margin of safety of Rs. 36,092,701, indicating it is profitable and would need a sales decrease of over Rs. 36 million before reaching a loss-making position.
Real Estate Investment in Kuwait | leading investment Holding companyactionkuwait123
Action Group Holdings (K.S.C.C.) (AGH) is a private Kuwait-based holding company established in 1998. With financial interests in both private and public companies, the Group also invests significantly in alternative investments such as real estate and private equity.
Tata Motors acquired Daewoo Commercial Vehicles of Korea in 2004. The acquisition gave Tata Motors access to Daewoo's advanced technology and products for heavy commercial vehicles. It also allowed Tata Motors to enter new international markets. Tata Motors worked hard to integrate Daewoo and address employees' concerns by communicating Tata's philosophy, respecting Korean culture, and keeping Daewoo executives in place. The acquisition has been successful, with Daewoo launching new products, doubling exports, and increasing market share in Korea and India.
This was a proposal for a business plan for a company that I had once worked with that wanted to develop a long term business plan. I had worked with this company on TQM back in the 90's and they asked me to submit a proposal to help develop a business plan.
1. The document provides an overview of AL-HAJ FAW Motors, a joint venture between AL-HAJ Group and Chinese automaker FAW. It details the company's expansion in Pakistan from importing vehicles to establishing local assembly operations.
2. AL-HAJ FAW initially entered Pakistan by importing FAW trucks and gained a market share. It then invested $1 billion to set up an assembly plant in Karachi to locally produce vehicles at lower costs.
3. The company focuses on providing strong after-sales service through dealers nationwide and transferring Chinese technology to Pakistan. It aims to change perceptions of Chinese vehicles and provide quality, reliable transportation options.
FAW China is a Chinese state-owned automaker founded in 1953 with over 100,000 employees. It has a joint venture with AL-HAJ Group called AL-HAJ FAW Motors established in 2006 to distribute FAW vehicles in Pakistan. AL-HAJ FAW Motors has expanded from importing complete built-up trucks to establishing an assembly plant in 2010, creating over 1,500 jobs. The company focuses on high quality, reliable, economical trucks and has grown to become the second largest truck seller in Pakistan through expanding its dealership network and investing in customer service.
The automobile sector in India has become the fourth largest in the world. Vehicle sales are increasing rapidly at 9.5% annually. Renault is a French automaker established in 1899 with a 4% market share in India. In 2017, Renault launched the Captur compact SUV targeting professionally educated 25-40 year olds. It positions the Captur as a luxurious SUV at the price of a sedan with convenient handling and mileage.
Signature Airlines had a challenging first year under new management but showed improvements, especially in the fourth quarter. While the company was unable to turn a profit for the full year, strategic changes such as adding new routes, upgrading aircraft, and increasing marketing budgets helped revenue grow substantially in Q4. Looking ahead, Signature Airlines aims to continue optimizing operations and expanding into profitable markets to achieve sustainable growth.
This is a sample valuation of Apollo Tyres Pvt Ltd conducted by Precisial Global Business Services OPC Pvt Ltd. Figures and assumptions have been extrapolated from available public information. The sample report should not be used for any investment related purpose. For details, pls contact us on the address mentioned in the document
Trafigura's financial results for the first half of 2014 show:
- Group turnover of $63.8 billion, up 3% from the previous year.
- Gross profit of $960.8 million, unchanged from the previous year.
- Net profit of $469.7 million, up 24% from the previous year.
- Oil and petroleum products volumes increased 7% and non-ferrous and bulk volumes increased 67% compared to the previous year.
- Investments in infrastructure assets like ports and terminals in Brazil, the US, Peru and Colombia are expected to drive future growth.
Tata Motors acquired Jaguar Land Rover from Ford Motor Company in 2008 for $2.3 billion. Tata conducted extensive due diligence to evaluate JLR's finances, human resources, and culture before the acquisition. Tata had the financial resources for the acquisition through a $3 billion bridge loan, and planned to raise $2.3-2.4 billion through equity offerings to refinance the loan. The acquisition provided strategic benefits for Tata, including expanding into new global markets, gaining access to technology and brands, and reducing dependence on the Indian market. However, integrating JLR also presented cultural and operational challenges.
ABF Group (HR Manager Contact - Wilson, 9845684754)Wilson M
The ABF Group is a strong entity having operations in India,China & Middle East. It has diverse businesses such as Shipping & Logistics, Freight Forwarding, Leather Tanning, Heavy Steel Fabrication and Engineering , Steel Trading and many more.
Nissan plays a leading role in the global automotive industry and aims to optimize mobility worldwide through innovation. The company is committed to sustainable, profitable growth through its mid-term business plan Nissan Power 88. This plan accelerates growth by expanding business globally and providing relevant products. Nissan strategically invests in focus areas and growing markets through new plants, brands like Datsun, and partnerships. It also pursues innovation through research centers developing technologies like autonomous driving and connected vehicles. Nissan communicates transparently with shareholders through investor briefings and aims to increase understanding of its long-term vision and strategies.
Total Manufacturing Excellence Conference - EqyptSyed Ashar Ali
This document provides information about the "Total Manufacturing Excellence" conference, including details about speakers, topics, and schedule. Some of the key points:
- The conference will take place November 18-19, 2012 in Cairo, Egypt and focus on strategies and techniques for continuous improvement in manufacturing operations and production.
- Expert speakers will provide insights on topics like strategic acquisitions, total productive maintenance, cost reduction methodologies, quality and production efficiencies, and more.
- An interactive workshop on lean manufacturing will be led by Mike Denison and address topics such as lean principles, lean culture, operational excellence, and lean six sigma.
- The conference is aimed at sharing best practices for implementing latest
The Southwest California Legislative Council opposes Proposition 30, which would increase sales and income taxes to fund education. If passed, it would raise the sales tax rate to 7.5% and create three new high-income tax brackets of 10.3%, 11.3%, and 12.3% for taxpayers earning over $250,000, $300,000, and $500,000 respectively. The Council argues this will negatively impact businesses and is an overreliance on high-income taxpayers. Opponents also note California's budget issues stem from overspending, not lack of revenue. Supporters argue the tax hike is needed to fund education and avoid deeper cuts.
The document discusses uncertainty in the housing market and its impact on sales in July. Key points:
1) Sales in the region were down 10% month-over-month and 4% from last July, with some cities like Hemet and Murrieta seeing even steeper declines.
2) Uncertainty appears to have caused the housing market to weaken earlier than usual, with the slowdown typically happening in September rather than July.
3) Prices held steady month-over-month despite the sales decline. Inventory rose slightly and properties stayed on the market longer.
4) The author expects continued uncertainty through the November election and for the housing market performance to remain unclear.
The document is a letter inviting shareholders to ArvinMeritor's 2008 annual meeting. It provides details on the meeting such as the date, time, and location. It also lists the purposes of the meeting, which are to elect three board members and approve the selection of the auditing firm Deloitte & Touche. The letter encourages shareholders to attend and informs them how to RSVP if they plan to go.
The Southwest California Legislative Council assigned each of the 17 ballot propositions to one of our Directors / subject matter experts. Each prepared a report noting the title of the proposition, official verbiage, entities in support or opposition to the measure, where the funding came from and what a YES or NO vote means on the ballot. The Council discussed these details and adopted a position based on our Strategic Initiatives and the impact of the proposition on our business community.
"Global outlook for borates", presentation by Gary Goldberg, President & Chief Executive Officer, Rio Tinto Minerals, Industrial Minerals Congress, Miami, Florida, March 22 - 24, 2010
ArvinMeritor had a challenging fiscal year 2007 due to downturns in the North American commercial vehicle market and higher costs. The company implemented aggressive restructuring actions to improve profitability, including divesting its Emissions Technology business, consolidating facilities, and launching a Performance Plus program to reduce costs. Looking ahead, ArvinMeritor expects global commercial vehicle markets outside of North America to remain strong and anticipates benefiting from restructuring actions and market recoveries in the second half of 2008.
1. ArvinMeritor is restructuring its LVS business and positioning itself for global growth through new smart systems solutions.
2. The company is committed to strengthening its balance sheet, improving liquidity, and reducing debt.
3. ArvinMeritor experienced challenges from the downturn in the North American commercial vehicle market but sees opportunities for growth in South America and Asia Pacific through expanding revenues and sourcing.
The document provides an annual report for ArvinMeritor for 2004. It discusses the challenges faced that year including a fluctuating economy, rising fuel prices, and global uncertainty. It summarizes the company's financial performance with sales increasing 19% to $8 billion and operating income increasing 6% to $260 million. It outlines the new CEO's plan to rationalize assets, refocus resources on core businesses, and regenerate growth through new contracts and technology.
The document provides an annual report for ArvinMeritor for 2004. It discusses the challenges faced that year including a fluctuating economy, rising fuel prices, and global uncertainty. It summarizes the company's financial performance with sales increasing 19% to $8 billion and operating income increasing 6% to $260 million. It outlines the new CEO's plan to rationalize assets, refocus resources on core strengths, and regenerate the business to drive growth and improve returns.
ArvinMeritor's 2002 annual report summarizes the company's strategies and financial performance for the fiscal year. The company reported $6.9 billion in sales, a 1% increase, and $107 million in net income, a 206% rise. It pursues strategies of business diversification, organic growth, increasing content per vehicle through innovative systems solutions, and enhancing products for safety and the environment. These strategies helped offset cyclical risks and increased the company's market opportunities. The report highlights several new contracts and product developments that demonstrate the strategies are driving growth.
ArvinMeritor's 2002 annual report summarizes the company's strategies for growth, including minimizing cyclicality through business diversity, focusing on organic growth while reviewing strategic opportunities, and growing content per vehicle through technologically advanced systems and modules. The report discusses how each business group - Light Vehicle Systems, Commercial Vehicle Systems, and Light Vehicle Aftermarket - performed in 2002 and opportunities for future growth. Key highlights include a 1% increase in sales and a 206% increase in net income compared to 2001, as the company remains committed to consistent quality and service for customers.
Fiscal 2005 was an important year for ArvinMeritor as they made progress positioning the company for long-term success despite challenges in the industry. Sales increased 11% to $8.9 billion while net income improved to $12 million from a loss of $42 million. The company streamlined operations through restructuring, divested certain businesses, and secured new business contracts. ArvinMeritor also increased research spending and focused on developing solutions for safety, mobility, and the environment to create value for its automotive customers.
The document summarizes ArvinMeritor's 2005 Annual Report. Key points include:
- Fiscal 2005 was an important year of transformation as the company positioned itself for long-term success.
- The company grew through joint ventures, divested non-core businesses, and implemented restructuring to improve its cost structure and competitiveness.
- Leadership changes were made to the board of directors and executive team to drive the company's strategic vision.
- Ingram Micro is an IT distribution company that has consistently grown its annual sales and net income over the past decade, reaching record highs of $35 billion in sales and $276 million in net income in 2007.
- The company has a history of being "first" in the industry by entering new markets like Asia-Pacific and developing new business models and services.
- In 2007, Ingram Micro saw strong growth across all regions, especially Asia-Pacific, and made strategic acquisitions to expand into new product categories and services.
Western Union's 2008 annual report summarizes the company's strong financial performance in 2008. The company delivered record revenue of $5.3 billion and cash flow from operations of $1.25 billion. Western Union's share of the global cross-border remittance market increased to 17% in 2008. Looking ahead, the company plans to focus on accelerating profitable growth, expanding payments services, innovating new products, and improving profitability through cost reductions.
The document is the 2014 annual report of Crawford & Company, a global claims management company. It discusses Crawford's strategic focus on innovation and clients in 2014 despite lower claims volumes. Key points include:
- Crawford made acquisitions to expand globally and in specialty markets like construction.
- Broadspire improved significantly with nearly 90% higher operating earnings.
- Investments were made in technology and capabilities to better serve multinational clients.
- The future remains optimistic with plans to leverage resources through a new global business services center.
YRC Worldwide Inc. reported record revenue and operating profit in 2006. The company achieved its fourth consecutive year of returns exceeding its weighted average cost of capital. In 2006, YRC formed new organizational structures including YRC National Transportation and the Enterprise Solutions Group to improve efficiency and enable faster growth. The company will continue pursuing its strategic goal of becoming a global leader in transportation and supply chain solutions.
YRC Worldwide Inc. reported record revenue and operating profit in 2006. The company achieved its fourth consecutive year of returns exceeding its weighted average cost of capital. In 2006, YRC formed new organizational structures including YRC National Transportation and the Enterprise Solutions Group to improve efficiency and enable faster growth. The company expects these changes to bring together capabilities and accelerate performance in 2007.
This document is Starwood Hotels & Resorts Worldwide's 2008 proxy statement and 2007 annual report. It contains the CEO's letter to shareholders, highlighting several accomplishments in 2007 including 10.3% worldwide RevPAR growth and opening 67 new hotels. The CEO outlines Starwood's strategy going forward, which focuses on five pillars: world-class brands, operational excellence, growth, smart growth, and expense control. Starwood aims to strengthen its brands, deliver excellent guest experiences, expand its global footprint especially in luxury and upper-upscale segments, invest wisely in growth, and reduce costs. The CEO expresses confidence in Starwood's pipeline of over 120,000 rooms to drive substantial growth in the coming years.
This document provides an agenda for a JAS Forwarding worldwide presentation. The agenda includes sections on the company's mission statement, vision, history, success and future plans, global organization and services, compliance and quality, worldwide network, information technology, account management, ongoing support, and wrap up. Key points are that JAS is committed to excellence in service and competitive pricing. It has experienced exponential growth over 30 years and now has a global network across 80 countries and 240 offices.
The document discusses procurement intelligence and its importance for businesses. It defines procurement intelligence as the skills, tools, and practices used to help a business acquire an enhanced understanding of its commercial context to support better buying and sourcing decision-making. The document outlines how procurement intelligence can be used to accelerate ROI and savings through spend analysis, supplier intelligence, and market intelligence. It also discusses how to build a procurement intelligence framework and add intelligent plugins to leverage procurement intelligence.
- Starwood Hotels & Resorts Worldwide faced significant challenges in 2008 as business trends deteriorated throughout the year and the economic downturn continued into 2009.
- In response, Starwood aggressively cut costs, reducing corporate overhead by 30% through restructuring initiatives and property-level costs through lean operations and normative modeling.
- Looking ahead, Starwood remains focused on managing costs without compromising long-term growth, driven by its strategic focus on growing its managed and franchised business and unlocking real estate value.
This annual report provides information on carsales.com Ltd for the 2013 financial year. It lists the company directors and executives. The Managing Director's review highlights that it was another strong year for the company, with revenue up 17% and net profit up 17%. Key parts of the business that drove growth included the MediaMotive display advertising division, the private seller marketplace, and dealer services. The company also moved to a new head office building. The Chairman expresses satisfaction with the financial results and strategic positioning of the company.
The annual report summarizes Gunnebo's performance in 2013. It states that Gunnebo is a global supplier of security products and solutions operating in 33 countries. In 2013, Gunnebo saw continued strong growth in the Asia-Pacific and Americas regions and the first signs of stabilization in Europe. Key developments included the realignment of the organization into three regional structures, investments in growth markets, and new product launches.
The document discusses Aurobindo Pharma's growth from 1986 to 2007. Some key points:
- Aurobindo Pharma has grown to become one of India's top five pharmaceutical companies and a global leader in certain products.
- It now has 11 plants globally, around 6,000 employees, 20 overseas subsidiaries, and half a billion dollars in annual revenue.
- The company's new logo reflects its rapid growth trajectory and global reach. It aims to have no boundaries and a positive global influence.
- Aurobindo Pharma believes the opportunities ahead will allow it to become a global powerhouse, and is committed to creating long term value and sustainable growth.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to be vertically integrated and diversified in its product offerings and geographic reach.
The document provides an overview of CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It then discusses CMC's current market conditions and outlook across different geographic regions and product lines, including details on earnings expectations, capital investment projects, and quarterly financial statistics. The document also reviews factors influencing costs and selling prices for CMC's various steel manufacturing operations in North America.
The document provides an overview of CMC, a global steel and metals company. It discusses CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It also summarizes CMC's track record of conservative management and 30 consecutive years of profitability. Finally, it outlines CMC's five operating segments and overall strategy of achieving a global reach through regional focus and growth in key markets.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to vertically integrate its operations from scrap processing to steel fabrication to provide a hedge against steel and metal price fluctuations.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews earnings, sales, margins, capital investments, and performance across CMC's different business segments.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews demand trends, input costs, earnings, investments, segment performance, and operational details.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, product lines, capital projects, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes factors such as raw material costs, sales prices, margins, and operating profits across CMC's divisions.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, current projects, liquidity position, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes performance and outlook for CMC's Americas and international operations.
This document summarizes notes from the 4th Annual Global Steel CEO Forum held by Goldman Sachs on December 4, 2008. It discusses the current challenging market conditions for the steel industry due to the global liquidity crisis, including falling prices, production cutbacks, and declining demand. Updates are provided on conditions and outlook for different markets, including further price declines and inventory reductions in North America, continued cutbacks and oversupply in Europe and the Middle East, and China's efforts to stimulate domestic demand and infrastructure spending to boost its economy and steel demand. Breaking the negative cycle depends on the effectiveness of global government intervention programs and restoration of confidence.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication plants, recycling, and marketing/distribution, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show shareholders that CMC's business strategy and performance set it apart from other steel industry firms.
This document is Commercial Metals Company's 2005 Annual Report. It summarizes the company's financial performance for fiscal year 2005, including record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. It discusses positive results across the company's business segments, including Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution. The annual report also provides an overview of the company's operations, strategic focus on vertical integration, and capital expenditure plans.
This document is the 2005 annual report for Commercial Metals Company. It summarizes the company's financial performance for fiscal year 2005, which saw record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. The company's domestic mills and fabrication segments significantly outperformed the prior year due to higher steel prices and strong end-user demand. While operations in Poland saw a decline from the prior year, performance improved in the fourth quarter. Overall, the company benefited from favorable market conditions across most of its businesses.
This document is Commercial Metals Company's 2005 Annual Report which summarizes the company's financial performance for fiscal year 2005. Some key points:
- The company achieved record net earnings of $286 million on record net sales of $6.6 billion in fiscal year 2005, up from $132 million in net earnings on $4.8 billion in net sales in fiscal year 2004.
- All of the company's business segments - Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution - experienced strong financial performance and profitability in 2005.
- The company continued its strategy of vertical integration and diversification which has helped it perform well in changing market conditions.
- For
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set new records for sales, production, and shipments as metal spreads increased. The copper tube mill's operating profit increased significantly year-over-year.
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set production and shipment records while benefiting from high metal spreads. CMCZ also improved significantly through organizational changes and new investments.
Commercial Metals Company reported record financial results for fiscal year 2006 with net sales of $7.6 billion, net earnings of $356 million, and diluted earnings per share of $2.89. All five of CMC's business segments performed well, with domestic steel mills, CMCZ (the Polish steel operation), and recycling being especially strong. Market conditions were favorable, especially for non-residential construction, and CMC executed well. The company also invested in new facilities, acquisitions, and branding initiatives. CMC has high confidence in its future due to the continued expected strength of its end markets and its vertically integrated business model.
Commercial Metals Company had a profitable year in 2007, approaching the record profits of 2006. The company made several strategic acquisitions, announced plans to build a new micro mill, and reorganized internally to take advantage of growth opportunities. All five of the company's business segments performed well. Safety remains a major focus.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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2. The automotive landscape is changing at a faster
pace than ever before in our history. We realize that
we must also change to enable us to respond
quickly to market factors, while furthering our
ability to capitalize on the exciting opportunities in
the global vehicle markets.
Fine-Tuning the Product Portfolio
This fiscal year, we divested certain businesses that are no longer part
of our long-term business strategy. Completing these transactions
improved ArvinMeritor’s financial position and allowed us to focus
resources on our core light and commercial vehicle businesses.
Divestitures included:
• Commercial vehicle off-highway brake assets
ArvinMeritor Shareowners, • Equity share in a Purolator filters joint venture in India
• Purolator filters business in North America
• Aftermarket exhaust business in North America
Fiscal year 2006 was significant for ArvinMeritor and for the motor
vehicle industry. We witnessed events that had a dramatic impact on • Aftermarket ride control business in South Africa
customers worldwide, the vehicle manufacturers, and the entire supply • Aftermarket motion control business in North America
chain. Record high sales in most of the markets we serve; notable
growth in regions such as China and India; and new technologies Improving Our Cost Structure and Establishing the
Optimal Global Footprint
designed to improve safety, reduce emissions and enhance driver
satisfaction, were offset by massive restructuring actions, bankruptcies, Through a series of restructuring actions, we have taken steps to
production cuts, and rising raw material and energy costs. improve our cost structure across the company. While mindful of the
impact these actions have on our employees, we are constantly
The automotive landscape is changing at a faster pace than ever
assessing our global operations to identify ways to optimize our
before in our history. We, at ArvinMeritor, realize that we must also
capacity, leverage human and capital resources, and strengthen our
change and continue to position our company in ways that enable us
geographic footprint. Currently, fifty percent of the company’s sales are
to respond quickly to market factors while furthering our ability to
in North America; thirty-eight percent are in Europe; and 12 percent
capitalize on the exciting opportunities in the global vehicle markets.
are in Asia Pacific and other areas of the world.
Delivering Results and Increasing Financial Flexibility Our goal is to evolve the current geographic customer mix, through
I am proud of our team for the financial results and the impressive restructuring, alliances and new operations, to a more strategic
capital structure improvement actions that we accomplished this year. balance of one-third in North America; one-third in Europe; and one-
ArvinMeritor recorded sales of $9.2 billion from continuing operations, third in South America, Asia Pacific and other growth markets. This
translating to top line growth of 4 percent. Despite market headwinds, strategy will further improve our overall cost structure as we expand
we met financial expectations and improved the company’s balance into regions like Eastern Europe, South America and Asia, while also
sheet, resulting in our becoming an even stronger competitor among enabling us to better support our diversified customer base whose
the top-tier global automotive supplier group. Below are highlights: operations are growing in many regions of the world.
• Retired $672 million of mid-term debt We also see great potential to penetrate Asian and other regional
markets with products and services for which we are currently market
• Extended long-term debt maturities by issuing $300 million of
leaders in North America and Europe. As an example, we plan to
convertible notes maturing in 2026
expand our Commercial Vehicle Aftermarket (CVA) product and service
• Established more than $1 billion of secured credit facilities that
support business into Europe, as well as Asia and South America. With
extend maturities to 2011 and 2012
an established original equipment manufacturer presence in those
regions, strong ArvinMeritor brands including Meritor and Euclid, and
ArvinMeritor, Inc. ■ 2006 Annual Report
3. years of distribution channel expertise, CVA represents a profitable growth We will continue to share our accomplishments with you as we move
opportunity for ArvinMeritor, and one we are aggressively pursuing. forward in this process.
Adding to our already significant presence in Asia Pacific, this year we
Looking Forward to 2007
established six new operations in China, and began building a new trailer
Fiscal year 2007 promises to be one of challenge and opportunity. We
axle and suspension manufacturing facility in Wuxi, China. And, to further
have a leadership team that I consider to be the best in the industry, a
accelerate our global expansion strategy, we are establishing a regional
strong portfolio of products, a growing and diverse customer base, and an
headquarters office in Asia. We are excited about the benefits this will
impressive global footprint.
provide as we identify, pursue, and manage new business ventures in that
part of the world. We have a workforce of more than 27,000 employees committed to
continuous improvement, with a passion for our industry, and a drive to
Driving the Business Forward win. We have the vision and strategy to differentiate ourselves as a global
We were pleased to welcome five new leaders to our executive systems leader through product development and technology capabilities
management team. Each adds a unique blend of industry background and that can be applied across markets, like our wheel and axle lines. We are
experience to our existing strong management team. They are: developing products that will be “must-haves” for our customers, like our
new generation of electronic door latches. And we will continue to look for
• Jay Craig, Vice President and Controller
strategic business alliances that build our portfolio, improve our global
• Phil Martens, Senior Vice President and President,
reach and strengthen our research and development capabilities.
Light Vehicle Systems
Moving beyond 2007, we also acknowledge the real possibilities that exist
• Robert Ostrov, Senior Vice President, Human Resources, and
in other vehicle transportation markets. These markets may offer great
Chief Diversity Officer
opportunities in the future.
• Carsten Reinhardt, Senior Vice President and President,
Commercial Vehicle Systems During this time of such rapid change in the global motor vehicle industry,
we are also changing to meet and exceed our customers’ expectations,
• H. H. “Buddy” Wacaser, Senior Vice President and President,
and we are more confident than ever in the future of our company.
Emissions Technologies
Thank you for your continued support.
In addition, we also announced the election of Mary Lehmann as
Vice President and Treasurer.
Building On a Strong Foundation
While we are pleased with the progress we made in 2006, we recognize
Sincerely,
the need to accelerate change. Therefore, we recently launched an
exciting initiative at ArvinMeritor that we are calling Performance Plus. This
transformational program is designed to be much more than a cost
reduction activity. Performance Plus will define changes to our structure
and our culture that are necessary to maximize cost efficiencies; build
Charles G. “Chip” McClure
manufacturing excellence; increase our research and development
Chairman, CEO and President
commitment; further advance product innovation; identify new business
December 11, 2006
opportunities; and ultimately, enable us to deliver greater shareowner value
through increased profitability.
A diverse team of employees representing top talent was selected from
across the company and is being led by members of the executive
leadership team. This team’s mission is to identify and implement major
initiatives in two key areas:
Operational Excellence
Material Optimization
Manufacturing Excellence
Lean Overhead
Commercial Excellence
Stronger Engineering, Research and Development Pipeline
Product Growth
Aftermarket Growth
ArvinMeritor, Inc. ■ 2006 Annual Report
4.
5. UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended October 1, 2006
Commission File Number 1-15983
ARVINMERITOR, INC.
(Exact name of registrant as specified in its charter)
INDIANA 38-3354643
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2135 West Maple Road
Troy, Michigan 48084-7186
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (248) 435-1000
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of each class Name of each exchange on which registered
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE
DOCUMENTS INCORPORATED BY REFERENCE
6.
7. PART I
Item 1. Business.
Management’s Discussion and Analysis of Financial Condition and Results of Operations Financial Statements and
Supplementary Data,
Continuing Operations:
Discontinued Operations:
8. Financial Statements and Supplementary
Data
Risk Factors
Financial Statements and Supplementary Data
Business Strategies
Minimize the Risks of Cyclicality Through Business Diversity.
Products.
Customers.
Global Presence.
Focus on Organic Growth While Reviewing Strategic Opportunities.
9. Grow Content Per Vehicle Through Technologically Advanced Systems and Modules.
Enhance Core Products to Address Safety and Environmental Issues.
Strengthen our Presence in Emerging Global Markets
10. Drive a Continuous Improvement Culture Focused on Return on Capital.
Products
Fiscal Year Ended
September 30,
2006 2005 2004
Light Vehicle Systems
Emissions Technologies
11. Aperture Systems
Roof Systems.
Door Systems
Undercarriage Systems
Suspension Systems
Suspension Modules.
Wheel Products.
Commercial Vehicle Systems
Undercarriage and Drivetrain Systems
Truck Axles.
Drivelines and Other Products.
Suspension Systems and Trailer Products.
13. Specialty Systems
Off-Highway Vehicle Products.
Government Products.
Specialty Vehicle Products.
Discontinued Operations
Light Vehicle Aftermarket.
LVS Ride Control Systems.
Customers; Sales and Marketing
Management’s Discussion and Analysis of Financial Condition and Results of Operations — Overview — Results of
Operations.
Management’s
Discussion and Analysis of Financial Condition and Results of Operations
Risk Factors
Competition
14. Risk Factors
Raw Materials and Supplies
Strategic Initiatives
Restructuring.
Financial Statements and Supplementary Data
Divestitures.
Financial Statements and Supplementary Data
15. Acquisitions and Other Growth Initiatives.
Risk Factors
Joint Ventures
Financial Statements and Supplementary Data
Research and Development
Patents and Trademarks
16. Financial
Statements and Supplementary Data
Employees
Management’s Discussion and Analysis of Financial Condition and Results of Operations- Overview
Financial Statements and Supplementary Data
Environmental Matters
Financial Statements and Supplementary Data
17. International Operations
Financial Statements and Supplementary Data
Risk Factors
Quantitative and Qualitative Disclosures About Market Risk
Financial Statements and Supplementary Data
Seasonality; Cyclicality
Risk Factors
Year Ended September 30,
2006 2005 2004 2003 2002
18. Management’s Discussion and Analysis of Financial
Condition and Results of Operations — Overview — Results of Operations
Available Information
Cautionary Statement
Business
Risk Factors Legal
Proceedings Management’s Discussion and Analysis of Financial Condition and Results of Operations
Item 1A. Risk Factors.
We operate in an industry that is cyclical and that has periodically experienced significant year-to-year fluctuations
in demand for vehicles; we also experience seasonal variations in demand for our products.
19. We depend on large OEM customers.
We operate in a highly competitive industry.
A disruption in supply or a significant increase in price of raw materials or parts could impact our production and
increase our costs.
20. Work stoppages or similar difficulties could significantly disrupt our operations.
Our international operations are subject to a number of risks.
Our liquidity, including our access to capital markets and financing, could be constrained by our credit ratings, our
ability to comply with financial covenants in our debt instruments, and our suppliers extending normal trade credit
terms on our purchases.
21. Our strategic initiatives may be unsuccessful, may take longer than anticipated, or may result in unanticipated
costs.
We are exposed to environmental, health and safety and product liabilities.
We are exposed to asbestos litigation liability.
22. We are exposed to the rising cost of pension and other post-retirement benefits, and are currently involved in
litigation the outcome of which could further increase these costs.
23. Item 1B. Unresolved Staff Comments.
Item 2. Properties.
Engineering Facilities,
Sales Offices,
Manufacturing Warehouses and
Facilities Service Centers
Financial Statements and Supplementary Data
Owned Facilities Leased Facilities
Location LVS CVS LVA Other LVS CVS LVA Other Total
(in thousands of square feet)
Item 3. Legal Proceedings
Management’s Discussion and Analysis of Financial Condition and Results of Operations — Overview
Financial Statements and Supplementary Data
24. Financial Statements and Supplementary
Data
Business
Item 4. Submission of Matters to a Vote of Security Holders.
Item 4A. Executive Officers of the Registrant.
Charles G. McClure, Jr.
Vernon G. Baker, II
Jeffrey A. Craig,
Linda M. Cummins
James D. Donlon, III
Mary A. Lehmann
Perry L. Lipe
Philip R. Martens
Robert Ostrov
Carsten J. Reinhardt,
25. Rakesh Sachdev
H. H. “Buddy” Wacaser
Bonnie Wilkinson
PART II
Item 5. Market for the Registrant’s Common Equity and Related Stockholder Matters.
Fiscal Year 2006 Fiscal Year 2005
Quarter Ended High Low High Low
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
26. Item 6. Selected Financial Data.
Management’s Discussion and
Analysis of Financial Condition and Results of Operations Financial Statements and Supplementary Data
Year Ended September 30,
SUMMARY OF OPERATIONS 2006 2005 2004 2003 2002
FINANCIAL POSITION AT SEPTEMBER 30
27. Item 7. Management’s Discussion and Analysis of Financial Conditions and Results of Operations.
Overview
28.
29. Market Outlook
Year Ended September 30
2006 2005 2004 2003 2002
Company Outlook
30.
31. Results of Operations
Year Ended September 30,
2006 2005 2004
(in millions, except
per share amounts)
32. 2006 Compared to 2005
Sales
Dollar Change Due to
Dollar % Acquisitions Volume /
2006 2005 Change Change Currency Divestitures Other
Continuing Operations
Business Segments
Light Vehicle Systems (LVS)
Commercial Vehicle Systems (CVS)
33. Operating Income (Loss) and Operating Margins
Operating Income Operating Margins
$ %
2006 2005 Change Change 2006 2005 Change
LVS CVS Total
2006 2005 2006 2005 2006 2005
Business Segments
LVS
34. CVS
Other Income Statement Items
Equity in earnings of affiliates
Interest expense, net and other
Income tax benefit
Minority interest
Loss from continuing operations
Loss from discontinued operations
35. 2005 Compared to 2004
Sales
Dollar Change Due to
Dollar % Acquisitions / Volume /
2005 2004 Change Change Currency Divestitures Other
Continuing Operations
36. Business Segments
LVS
CVS
Operating Income and Operating Margins
Operating Income Operating Margins
$ %
2005 2004 Change Change 2005 2004 Change
LVS CVS Total
37. Business Segments
LVS
CVS
Other Income Statement Items
Equity in earnings of affiliates
38. Interest expense, net and other
Provision for income taxes
Minority interest
Income from continuing operations
Loss from discontinued operations
Non-Consolidated Joint Ventures
39. Financial Condition
Capitalization
September 30,
2006 2005
Cash Flows
Fiscal Year Ended September 30,
2006 2005 2004
OPERATING CASH FLOWS
40. Cash provided by operating activities
Fiscal Year Ended September 30,
2006 2005 2004
INVESTING CASH FLOWS
Cash provided by investing activities
41. Fiscal Year September 30,
2006 2005 2004
FINANCING CASH FLOWS
Cash used for financing activities
Liquidity and Contractual Obligations
2010– There-
Total 2007 2008 2009 2011 after
44. Off-Balance Sheet Arrangements
Guarantees
Tender Offer
Critical Accounting Policies
Pensions
2006 2005
U.S. Non-U.S. U.S. Non-U.S.
discount rate
45. assumed return on plan assets
rate of compensation
Effect on All Plans — June 30, 2006
Increase
(Decrease) in Increase
Accumulated (Decrease)
Percentage Increase Other in 2006
Point (Decrease) Comprehensive Pension
Change in PBO Loss Expense
Retiree Medical
46. 2006 2005
discount rate
health care cost trend rate
2006 2005
Product Warranties
Asbestos — Maremont Corporation (“Maremont”)
51. New accounting standards implemented
“Share-Based Payment,”
“Accounting and Disclosure Guidance for the Foreign
Repatriation Provision within the American Jobs Creation Act of 2004.”
International Operations
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
52. Sensitivity Analysis:
Assuming a Assuming a Favorable /
10% Increase in 10% Decrease in (Unfavorable)
Rates Rates Impact on
Market Risk
Foreign Currency Sensitivity:
Interest Rate Sensitivity:
53. Item 8. Financial Statements and Supplementary Data.
Report of Independent Registered Public Accounting Firm
Internal Control—Integrated Framework
54. ARVINMERITOR, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In millions, except per share amounts)
Year Ended September 30,
2006 2005 2004
See Notes to Consolidated Financial Statements. Fiscal year 2005 amounts have been restated for discontinued operations.
55. ARVINMERITOR, INC.
CONSOLIDATED BALANCE SHEET
(In millions)
September 30,
2006 2005
ASSETS
LIABILITIES AND SHAREOWNERS’ EQUITY
See Notes to Consolidated Financial Statements. Fiscal year 2005 amounts have been restated for discontinued operations.
56. ARVINMERITOR, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)
Year Ended September 30,
2005 2004
2006
See Notes to Consolidated Financial Statements. Fiscal year 2005 and 2004 amounts have been restated for discontinued
operations.
57. ARVINMERITOR, INC.
CONSOLIDATED STATEMENT OF SHAREOWNERS’ EQUITY
(In millions, except per share amounts)
Year Ended September 30,
2006 2005 2004
See Notes to Consolidated Financial Statements.
58. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. BASIS OF PRESENTATION
2. SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates
Consolidation and Joint Ventures
Foreign Currency
59. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Impairment of Long-Lived Assets
Discontinued Operations
Revenue Recognition
Allowance for Doubtful Accounts
Earnings per Share
September 30,
2006 2005 2004
60. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Other
New Accounting Standards
New accounting standards to be implemented:
61. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
New accounting standards implemented:
“Share-Based Payment,”
“Accounting and Disclosure Guidance for the Foreign
Repatriation Provision within the American Jobs Creation Act of 2004.”
3. DISCONTINUED OPERATIONS
Light Vehicle Aftermarket
62. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Light Vehicle Ride Control
63. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Coil Coating
Year Ended September 30,
2006 2005 2004
September 30,
2006 2005
64. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
4. GOODWILL
LVS CVS Total
65. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
5. RESTRUCTURING COSTS
Fiscal year 2005 program:
Other restructuring actions:
66. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Fiscal year 2004 actions
Employee Plant
Termination Asset Shutdown
Benefits Impairment & Other Total
6. ACQUISITIONS AND DIVESTITURES
67. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
7. ACCOUNTS RECEIVABLE SECURITIZATION AND FACTORING
68. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
8. OTHER INCOME (EXPENSE)
Year Ended September 30,
2006 2005 2004
9. INVENTORIES
September 30,
2006 2005
69. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
10. OTHER CURRENT ASSETS
September 30,
2006 2005
11. NET PROPERTY
September 30,
2006 2005
70. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
12. OTHER ASSETS
September 30,
2006 2005
“Accounting for the Costs of Computer Software Developed or Obtained
for Internal Use,”
13. INVESTMENTS IN NON-CONSOLIDATED JOINT VENTURES
71. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
September 30,
2006 2005
Year Ended
September 30,
2006 2005 2004
September 30,
2006 2005
Year Ended September 30,
2006 2005 2004
72. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
14. OTHER CURRENT LIABILITIES
September 30,
2006 2005
2006 2005 2004
73. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
15. OTHER LIABILITIES
September 30,
2006 2005
16. LONG-TERM DEBT
September 30,
2006 2005
Convertible
Securities
74. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Debt Securities
Interest
Rate Swaps
Investment in Debt Defeasance Trust
Convertible Securities
Debt Securities
75. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Senior Secured
Credit Facilities
Subordinated Debentures
Senior Secured Credit Facilities
76. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Accounts Receivable Securitization
Related Parties
Interest Rate Swap Agreements
77. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Leases
Covenants
78. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
17. FINANCIAL INSTRUMENTS
Foreign Exchange Contracts
Fair Value
September 30,
2006 2005
Carrying Fair Carrying Fair
Value Value Value Value
79. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
18. SHAREOWNERS’ EQUITY
Common Stock
Treasury Stock
80. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Accumulated Other Comprehensive Loss
Foreign Minimum Unrealized
Currency Pension Gains
Translation Liability (Losses) Total
19. EQUITY BASED COMPENSATION
Stock Options
Remaining Aggregate
Exercise Contractual Intrinsic
Shares Price Life Value
81. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Outstanding Exercisable
Remaining
Contractual Exercise Exercise
Shares Life Price Shares Price
2004
Restricted Stock, Restricted Units, and Performance Share Units
Weighted-
Average
Number of Grant-Date
Nonvested Shares Shares Fair Value
82. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
20. RETIREMENT MEDICAL PLANS
83. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2006 2005 2004
2006 2005
2006 2005
84. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
September 30,
2006 2005
2006 2005 2004
85. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2006 2005
21. RETIREMENT PENSION PLANS
U.S. Plans
2006 2005 2004
Assumptions as of June 30
Non-U.S. Plans
Assumptions as of June 30 2006 2005 2004
86. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2006 2005
June 30 measurement date U.S. Non- U.S. Total U.S. Non- U.S. Total
87. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2006 2005
U.S. Non-U.S. U.S. Non-U.S.
2006 2005
June 30 measurement date U.S. Non-U.S. Total U.S. Non-U.S. Total
88. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2006 2005
U.S. Non-U.S. Total U.S. Non-U.S. Total
September 30,
2006 2005
2006 2005
ABO Assets ABO Assets
Exceeds Exceeds Exceeds Exceeds
Assets ABO Total Assets ABO Total
2006 2005 2004
89. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
U.S. Non U.S. Total
22. INCOME TAXES
2006 2005 2004
90. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
September 30,
2006 2005
September 30,
2006 2005
92. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2006 2005 2004
23. CONTINGENCIES
Environmental
93. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Superfund Non-Superfund
Sites Sites Total
Asset Retirement Obligations
Asbestos
Maremont Corporation
94. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
September 30,
2006 2005
Pending and Future Claims:
95. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Shortfall and other:
Recoveries:
Rockwell
96. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Contingencies Related to Work Stoppage
Product Recall Campaign
97. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Guarantees
Indemnifications
Other
24. BUSINESS SEGMENT INFORMATION
98. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Sales: 2006 2005 2004
Earnings: 2006 2005 2004
Depreciation and Amortization: 2006 2005 2004
Capital Expenditures: 2006 2005 2004
99. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Segment Assets: 2006 2005 2004
Sales by Geographic Area: 2006 2005 2004
Assets by Geographic Area (excludes assets of discontinued operations): 2006 2005
100. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
25. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
2006 Fiscal Quarters (Unaudited)
First Second Third Fourth 2006
(In millions, except share- related data)
2005 Fiscal Quarters (Unaudited)
First Second Third Fourth 2005
(In millions, except share-related data)
101. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
26. SUPPLEMENTAL FINANCIAL INFORMATION
2006 2005 2004
(In millions)
27. SUPPLEMENTAL GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
102. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(In millions)
Fiscal Year Ended September 30, 2006
Parent Guarantors Non-Guarantors Elims Consolidated
103. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(In millions)
Fiscal Year Ended September 30, 2005
Parent Guarantors Non-Guarantors Elims Consolidated
104. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(In millions)
Fiscal Year Ended September 30, 2004
Parent Guarantors Non-Guarantors Elims Consolidated
105. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING BALANCE SHEET
(In millions)
September 30, 2006
Parent Guarantors Non- Guarantors Elims Consolidated
106. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING BALANCE SHEET
(In millions)
September 30, 2005
Parent Guarantors Non-Guarantors Elims Consolidated
107. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(In millions)
Fiscal Year Ended September 30, 2006
Parent Guarantors Non- Guarantors Elims Consolidated
108. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(In millions)
Fiscal Year Ended September 30, 2005
Parent Guarantors Non-Guarantors Elims Consolidated
109. ARVINMERITOR, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(In millions)
Fiscal Year Ended September 30, 2004
Parent Guarantors Non-Guarantors Elims Consolidated
28. SUBSEQUENT EVENT
110. Item 9A. Controls and Procedures.
Disclosure Controls and Procedures
Management Report on Internal Control over Financial Reporting
Internal Control – Integrated Framework
Report of Independent Registered Public Accounting Firm
Internal Control—Integrated Framework
111. Internal Control—Integrated
Framework
Internal Control—Integrated Framework
Changes in Internal Control Over Financial Reporting
Item 9B. Other Information.
112. PART III
Item 10. Directors and Executive Officers of the Registrant.
Election of Directors, Information as to Nominees for Directors and Continuing
Directors, Involvement in Certain Legal Proceedings Section 16(a) Beneficial Ownership Reporting Compliance
Item 11. Executive Compensation.
Compensation of Directors Executive Compensation, Agreements with Named
Executive Officers Retirement Benefits
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Security Ownership of Certain Beneficial Owners and Management
Voting Securities Ownership by Management of Equity Securities
Securities Authorized for Issuance under Equity Compensation Plans
Securities Authorized for Issuance under Other Equity Compensation Plans
Item 13. Certain Relationships and Related Transactions.
113. Item 14. Principal Accountant Fees and Services.
Independent Accountants’ Fees
PART IV
Item 15. Exhibits and Financial Statement Schedules.
Page
119. SCHEDULE II
ARVINMERITOR, INC.
VALUATION AND QUALIFYING ACCOUNTS
For the Year Ended September 30, 2006, 2005, 2004
Balance at Charged
Beginning to costs Other Balance at End
Description (In millions) of Year and expenses Deductions of year
120. Board of Directors
Charles G. McClure Joseph B. Anderson, Jr. Rhonda L. Brooks David W. Devonshire Ivor J. Evans
Chairman of the Board Chairman of the Board President Executive Vice President Retired Vice Chairman
Chief Executive Officer and Chief Executive and Chief Financial
R. Brooks Advisors, Inc. Union Pacific Railroad
and President Officer Officer
ArvinMeritor, Inc. TAG Holdings, LLC Motorola, Inc.
Joseph P. Flannery William D. George, Jr. Richard W. Hanselman Victoria B. Jackson James E. Marley
Chairman of the Board Retired President and Chairman of the Board President Retired Chairman
President and Chief Chief Executive Officer of the Board
Forward Air Corporation Victoria Bellè, Inc.
Executive Officer S.C. Johnson Wax AMP Inc.
Uniroyal Holding, Inc.
William R. Newlin Steven G. Rothmeier Andrew J. Schindler
Executive Vice President Chairman and Retired Chairman
and Chief Administrative Chief Executive Officer Reynolds American Inc.
Officer Great Northern Capital
Dick’s Sporting
Goods, Inc.
ArvinMeritor, Inc. ■ 2006 Annual Report
121. Executive Officers
Charles G. McClure Vernon G. Baker, II Jeffrey A. Craig Linda M. Cummins James D. Donlon, III
Chairman of the Board Senior Vice President Vice President Senior Vice President, Senior Vice President
Chief Executive Officer and General Counsel and Controller Communications and Chief Financial
and President Officer
Mary A. Lehmann Perry L. Lipe Philip R. Martens Robert Ostrov Carsten J. Reinhardt
Vice President and Senior Vice President Senior Vice President Senior Vice President, Senior Vice President
Treasurer and Chief Information and President, Light Human Resources and President,
Officer Vehicle Systems Commercial Vehicle
Systems
Rakesh Sachdev H. H. Wacaser Bonnie Wilkinson
Senior Vice President, Senior Vice President Vice President
Strategy and Corporate and President, Emissions and Secretary
Development Technologies
ArvinMeritor, Inc. ■ 2006 Annual Report
122. Shareowner Information
Annual Meeting Independent Auditors
The company’s annual meeting of shareowners will be held in Troy, Mich., Deloitte & Touche LLP
on Friday, Jan. 26, 2007. A notice of meeting and proxy material will be 600 Renaissance Center
mailed to shareowners on or about Dec. 11, 2006. Detroit, MI 48243-1704
Phone: (313) 396-3000
ArvinMeritor Headquarters
Investor Relations
2135 West Maple Road
Troy, MI 48084-7186 Security analysts and professional investors should contact:
Phone: (248) 435-1000 Investor Relations
Fax: (248) 435-1393 2135 West Maple Road
www.arvinmeritor.com Troy, MI 48084-7186
www.arvinmeritor.com/investor/investor.asp
Board Communications Phone: (866) INFO-ARM or (866) 463-6276
For questions or concerns with respect to internal controls, auditing and Fax: (248) 435-1189
accounting matters, you may contact the Audit Committee of the Board of E-mail: investor.relations@arvinmeritor.com
Directors at the following address:
Copies of annual reports, Forms 10-K and 10-Q, and
ArvinMeritor Audit Committee
other ArvinMeritor publications can be obtained at
330 East Maple Road
www.arvinmeritor.com/investor/investor.asp or by
PMB 315
calling (866) INFO-ARM or (866) 463-6276.
Birmingham, MI 48009
E-mail: audit.committee@arvinmeritor.com New York Stock Exchange
For other questions or concerns, you may contact the Board of Directors at Common Stock (Symbol: ARM)
the following address:
ArvinMeritor Board of Directors Shareowner Services
330 East Maple Road Communications about share ownership, book-entry accounts,
PMB 335 dividend payments, transfer requirements, changes of address,
Birmingham, MI 48009 lost stock certificates and account status should be directed to:
The Bank of New York
Corporate Media Relations
Church Street Station
Members of the media should contact: P.O. Box 11258
Media Relations New York, NY 10286-1258
Phone: (248) 435-7115 Toll Free: (866) 517-4570
www.stockbny.com
Dividend Reinvestment and Additional Investments in
ArvinMeritor Common Stock Transfer Agent and Registrar
The Bank of New York provides the BuyDIRECT Program for ArvinMeritor The Bank of New York
shareowners, under which current shareowners may elect to reinvest Church Street Station
dividends and/or make optional cash investments in additional shares of P.O. Box 11258
ArvinMeritor common stock. The program also allows cash investments in New York, NY 10286-1258
ArvinMeritor common stock by first-time investors, with a $500 minimum Toll Free: (866) 517-4570
initial investment. Shareowners may also sell their shares through the www.stockbny.com
BuyDIRECT Program.
Requests for a brochure about the BuyDIRECT Program,
and communications about sale of shares, optional cash investments and
liquidations should be directed to:
The Bank of New York
Dividend Reinvestment Department
P.O. Box 1958
Newark, NJ 07101-9774
Toll Free: (866) 517-4570