ArvinMeritor Announces Sale of Light Vehicle Aftermarket Motion Control Business in Marion, S.C.
TROY, Mich., July 25 -- ArvinMeritor, Inc. today announced the sale of its Light Vehicle Aftermarket (LVA) Motion Control business in Marion, S.C., to AVM Industries LLC, an Ohio Limited Liability Company. Terms of the agreement were not disclosed. The sale does not include the land and buildings which are being retained by ArvinMeritor.
"With this sale, we move closer to our objective to divest the entire LVA business group, allowing us to build on our core competencies in the global automotive and commercial truck markets," said Chip McClure, ArvinMeritor chairman, CEO and president.
ArvinMeritor has in recent months announced the divestiture of other LVA businesses including its equity share in Purolator India; the Purolator filters business and exhaust business in North America; and last month, its Gabriel South Africa Ride Control business in Cape Town.
The Marion operation, which produces gas springs and vacuum actuators, has approximately 400 employees.
About ArvinMeritor
ArvinMeritor, Inc. is a premier $8.8 billion global supplier of a broad range of integrated systems, modules and components to the motor vehicle industry. The company serves light vehicle, commercial truck, trailer and specialty original equipment manufacturers and certain aftermarkets. Headquartered in Troy, Mich., ArvinMeritor employs approximately 29,000 people at more than 120 manufacturing facilities in 25 countries. ArvinMeritor common stock is traded on the New York Stock Exchange under the ticker symbol ARM. For more information, visit the company's Web site at: http://www.arvinmeritor.com/.