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10-03-2008
U.S.
car and truck parts maker ArvinMeritor Inc.
aims to add $1 billion in sales in Asia Pacific
in the next three to five years, banking in
part on robust demand in China, its regional
president said on Thursday.
ArvinMeritor has seen 25 to 30 percent annual
sales growth in the region in the past three
years, Rakesh Sachdev told Reuters in an interview.
Sales in the region are estimated to rise to
roughly $750 million in the current fiscal year
ending Sept. 30, 2008, up 32 percent from $570
million a year earlier, he said.
"When we put the plan together for 2008,
we were expecting to grow another 25 percent,
but we are doing better than that," said
Sachdev.
"If we continue at this rate we will get
to the $1 billion that we have targeted."
To help get there, ArvinMeritor plans to add
four manufacturing plants in Asia this year,
with two located in China, which already generates
half of its regional sales, he added.
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