ArvinMeritor trims annual loss to $101M
Nov 18, 2008 | 07:04 AM
| Corinna Petry
ArvinMeritor Inc.'s net loss narrowed to $101 million in its fiscal year ended Sept. 28 from $219 million the previous year.
Sales by the Tier 1 automotive parts supplier totaled nearly $7.17 billion, up 11.1 percent from almost $6.45 billion in the same comparison.
"Although commercial and light vehicle volumes in North America were down dramatically from fiscal 2007, we increased revenue from customers in Europe, South America and Asia Pacific," Charles "Chip" McClure, chairman, president and chief executive officer, said in a statement.....
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