COMMENT: ArvinMeritor: exhausting results
The world's largest producer of automotive exhausts has revealed a fourth quarter net loss of $US153 million. A challenging aftermarket has affected sales, and the company is to sell its light vehicle aftermarket business, writing off $190 million in the process. However, by exiting the aftermarket, ArvinMeritor increases its dependency on supplying manufacturers, which is a very low margin game.
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