Meritor Inc. announced that it has completed the sale of its 50% ownership interest in Suspensys Sistemas Automotivos Ltda. to its joint venture partner Randon S.A. Implementos e Participacoes.

The purchase price at closing for Meritor's ownership interest was $195 million in cash and other consideration.

Randon S.A. Implementos e Participacoes is a worldwide provider of solutions for freight and cargo transport in Brazil. The company operates directly through its subsidiaries in three segments - towed vehicles, railcars and specialty vehicles; auto parts and automotive systems; services and others.