Meritor Automotive has spun of its Tripmaster on-board trip recorder business to Tripmaster Corporation of Arlington, TX, a newly formed company that will market and support the product on a global basis.
Terms of the sale were not disclosed.
Prakash Mulchandani, senior vp and president of Meritor's Heavy Vehicle Systems (HVS) business said Tripmaster was not part of the company's future strategy. "Divesting this business reflects our focus on developing the industry's best and most complete drivetrain system" he said. "We're concentrating efforts on our core drivetrain components: brakes, axles, transmissions, clutches and drivelines and their related customer-support services, and Tripmaster is not core to that strategic direction."
The sale of Tripmaster closes a chapter in the history of Meritor and its predecessor Rockwell. The company was formerly a key player in the on-board computing and communications market through its Highway Transport Electronics division based in Cedar Rapids, IA.
Terms of the sale were not disclosed.
Prakash Mulchandani, senior vp and president of Meritor's Heavy Vehicle Systems (HVS) business said Tripmaster was not part of the company's future strategy. "Divesting this business reflects our focus on developing the industry's best and most complete drivetrain system" he said. "We're concentrating efforts on our core drivetrain components: brakes, axles, transmissions, clutches and drivelines and their related customer-support services, and Tripmaster is not core to that strategic direction."
The sale of Tripmaster closes a chapter in the history of Meritor and its predecessor Rockwell. The company was formerly a key player in the on-board computing and communications market through its Highway Transport Electronics division based in Cedar Rapids, IA.
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