ArvinMeritor Inc. has entered into an agreement to acquire Mascot Truck Parts Ltd., a major remanufacturer of transmissions, drive axle carriers, steering gears and drivelines, based in Mississauga, Ontario, Canada. Terms of the acquisition
were not disclosed.
Mascot's 170 full-time employees, six remanufacturing locations, and current customer base will become part of the ArvinMeritor team. Mascot enjoys a strong customer satisfaction level with its loyal customers in Canada and the United States.
"This expansion of our remanufacturing business makes sense for our customers and aligns with our business strategy to grow the aftermarket business," said Carsten Reinhardt, president of ArvinMeritor's Commercial Vehicle Systems business. "Mascot has a similar passion for providing its customers with high-quality, dependable, remanufactured components - all of which complement the ArvinMeritor remanufacturing model."
Mascot's six Canadian remanufacturing locations - including three in Mississauga, Ontario; and one each in Edmonton, Alberta; Moncton, New Brunswick; and Boucherville, Quebec - as well as its network of logistic centers across North America, will become integral to ArvinMeritor's remanufacturing business.
ArvinMeritor established its axle carrier remanufacturing operation in 1982 at its Florence, Ky., national parts distribution center, and has since moved that operation into a major remanufacturing center that now includes brake shoes, transmissions and trailer axles in Plainfield, Ind.
In late 2006, ArvinMeritor reached two major remanufacturing milestones with production of its 10 millionth brake shoe and 50,000th axle differential carrier produced for North American customers.