Meritor Automotive Files Shelf Registration Statement
10 April 1998
Meritor Automotive Files Shelf Registration StatementTROY, Mich., April 9 -- Meritor Automotive, Inc. , today filed a shelf registration statement with the Securities and Exchange Commission covering up to $500,000,000 aggregate principal amount of debt securities that may be offered after the registration statement becomes effective in one or more series on terms to be determined at the time of sale. Meritor noted that net proceeds of any offering would be added to the company's general funds which would be available for general corporate purposes, including the repayment of existing indebtedness, working capital needs, capital expenditures and acquisitions. Meritor, with 1997 sales of more than $3.3 billion, is a global supplier of a broad range of components and systems for commercial, specialty and light vehicles. Meritor consists of two businesses: Heavy Vehicle Systems, a leading supplier of drivetrain systems and components for medium- and heavy- duty trucks, trailers and off-highway equipment and specialty vehicles, including military, bus and coach, and fire and rescue; and Light Vehicle Systems, a major supplier of roof, door, access control and seat adjusting systems, electric motors and electronic controls, suspension systems and wheels for passenger cars, light trucks and sport utility vehicles. SOURCE Meritor Automotive, Inc.