ArvinMeritor Completes Sale of MSSC
As part of its effort to concentrate on commercial vehicle businesses, ArvinMeritor has completed the sale of its 57 percent stake in the Meritor Suspension Systems Company joint venture to Mitsubishi Steel Manufacturin
As part of its effort to concentrate on commercial vehicle businesses, ArvinMeritor has completed the sale of its 57 percent stake in the Meritor Suspension Systems Company joint venture to Mitsubishi Steel Manufacturing
. Meritor Suspension Systems Company produces automotive coil springs, torsion bars and stabilizer bars in North America.
The venture was sold for $13 million, which included a $12 million cash dividend received by ArvinMeritor in the third quarter.
"The completion of this transaction is another milestone toward ArvinMeritor focusing primarily on supplying advanced product solutions for commercial trucks and trailers, on- and off-highway applications for military, construction and bus and coach, and the aftermarket," said Chip McClure, ArvinMeritor's chairman, CEO and president.
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