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ArvinMeritor, Inc. announces that it has signed a memorandum of understanding with Axle Alliance Co. (AAC), a subsidiary of Daimler Chrysler (DCX) headquartered in Detroit, Mich. Under the terms of the proposed long-term agreement, ArvinMeritor would become the turnkey supplier in providing heavy-duty tandem rear drive axles to AAC, ultimately for Freightliner's North American Class 8 truck assembly operations.
Implementation of this memorandum is subject to the execution...