ArvinMeritor's repurchase program for 8¾% notes gets board approval

By Angela McDaniels

Tacoma, Wash., June 1 - ArvinMeritor, Inc.'s board of directors approved a repurchase program for up to the remaining principal amount of the company's 8¾% notes due 2012, according to an 8-K filing with the Securities and Exchange Commission.

Repurchases, if any, may be made from time to time through open-market purchases, privately negotiated transactions or otherwise.

According to the company's 10-Q report for the quarter ended April 4, $101 million principal amount of the notes remained outstanding as of March 31.

ArvinMeritor is a Troy, Mich.-based supplier of integrated systems, modules and components to the motor vehicle industry.

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