Meritor Automotive announced Friday it will not go forward with its participation in the recently announced

According to Meritor Chairman and Chief Executive, Larry D. Yost, "Complete neutrality is key to the success of any vertical exchange concept. As an industry supplier and majority partner, appropriate neutrality in this case could not be reached, based on the broad industry feedback that we've received since was announced. As such, Meritor has decided not to participate in this venture."
The venture, announced several weeks ago, was supposed to function as an open electronic marketplace for commercial truck aftermarket parts and services as an independent entity from Meritor.