On November 22, 2010, ArvinMeritor announced that its Xuzhou-based non-road business joint venture, Xuzhou Meritor Axle Co., Ltd. (Xuzhou Meritor) plans to invest an additional 17.3 million US dollars. The investment will enable Xuzhou Meichi to fully expand and upgrade its manufacturing and technology research and development capabilities. At the same time, it will add a 26,000-square-meter factory building on the basis of its original production area of â€‹â€‹37,000 square meters.
Mr. Tim Bowes, global president of ArvinMeritor Industrial Vehicles and President of Asia Pacific, said: â€œThis major investment fully reflects our strategic plan to fully expand the global off-highway vehicle business. Through this investment, we will continue to enhance non-road The manufacturing and technology research and development capabilities of the vehicle business meet the needs of our growing customer base in China, while further expanding our industry leadership in this market.â€
In early 2010, Xuzhou Meichi announced that it had invested 10 million US dollars to increase its production capacity. The companyâ€™s investment in Chinaâ€™s non-road business in fiscal 2010 totaled US$27.3 million.
Mr. Bowes said: â€œWith our extensive experience in designing and manufacturing heavy-duty axles for customers in the commercial vehicle sector and our strong manufacturing capabilities for off-highway vehicle products in China, we will continue to invest in meeting the tremendous development opportunities in the future Chinese market. Well prepared."
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