ArvinMeritor has officially changed its name to Meritor. Meritor's ticker symbol on the New York Stock Exchange is now MTOR.
With the divestitures of its light vehicle businesses now completed, the company is focused on commercial vehicle and industrial markets in every major region of the world.
The company initially assumed the name Meritor following the spin-off from Rockwell International in 1997. It remained Meritor until the merger with Arvin Industries in 2000. Since that time, the company has marketed and sold product under the Meritor brand.
The company also announced that it will close its European trailer axle business on July 31.
"This decision is driven by the competitive nature of the European trailer axle market which requires significant scale to address increasing cost challenges," said Joe Mejaly, president, Aftermarket and Trailers, Meritor. "In addition, following the decline in recent years, the market for commercial vehicle trailers is recovering more slowly than other sectors.
With the divestitures of its light vehicle businesses now completed, the company is focused on commercial vehicle and industrial markets in every major region of the world.
The company initially assumed the name Meritor following the spin-off from Rockwell International in 1997. It remained Meritor until the merger with Arvin Industries in 2000. Since that time, the company has marketed and sold product under the Meritor brand.
The company also announced that it will close its European trailer axle business on July 31.
"This decision is driven by the competitive nature of the European trailer axle market which requires significant scale to address increasing cost challenges," said Joe Mejaly, president, Aftermarket and Trailers, Meritor. "In addition, following the decline in recent years, the market for commercial vehicle trailers is recovering more slowly than other sectors.
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