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5. Meritor, Inc. Business Report FY ended Sep. 2019

Meritor, Inc. Business Report FY ended Sep. 2019

Factors
1) Net Sales
-The Company’s sales for the fiscal year ended September 30, 2019 were USD 4,388 million, 5.0% increase from USD 4,178 million in the previous fiscal year. The increase in sales was primarily due to higher truck production, mainly in North America, and increased Aftermarket and Industrial volumes across North America, partially offset by the strengthening of the U.S. dollar against most currencies.

2) Commercial Truck
-The Company's Commercial Truck segment's sales increased by 2.4% to USD 3,110 million in the fiscal year ended September 30, 2019, primary due to higher truck production in North America and increased market share, partially offset by the strengthening of the U.S. dollar against most currencies.


Acquisitions
-The Company announced that it has successfully completed its acquisition of AxleTech from global investment firm The Carlyle Group. The previously announced transaction enhances the company's growth platform with the addition of a complementary product portfolio, including a full line of independent suspensions, axles, braking solutions and drivetrain components. AxleTech will operate within Meritor's Aftermarket, Industrial and Trailer segment. (From a press release on July 29, 2019)

Contracts
-The Company announced it will supply key drivetrain components from its Blue Horizon, advanced technologies brand, for an electric urban bus developed by Alstom. Production for the manufacturer’s first orders of the all-electric Aptis buses is scheduled to begin in the summer of 2019. The Company's front- and rear-drive steer axles, air disc brakes and an innovative right-angle gear box will integrate directly into the differential to deliver power to wheel-ends from Alstom’s electric motor. The front and rear axles are steerable to offer a narrow turning radius to increase the vehicle’s maneuverability. (From a press release on July 31, 2019)

-The Company announced it will supply one of the industry’s lightest air disc brakes to Schmitz Cargobull, a manufacturer of semitrailers, trailers and truck bodies, beginning in 2021. The Company’s braking solution for the OEM is designed to meet trailer fleet expectations for efficiency, safety and performance. Components focused on weight and performance were developed at its braking center of excellence in Cwmbran, United Kingdom. The Company designed the brake based on delivering TCO benefits for customers while also retaining key aspects of current technologies. Its adjuster mechanism is based on Meritor’s proven ELSA brake design and includes a new patent pending friction pad design. (From a press release on July 31, 2019)



Recent Developments
-The Company announced the opening of a new USD 36.5 million axle assembly facility at Automotive Axles, its joint venture with Kalyani Group along with a state-of-the-art research and development center in Mysore, India. The new assembly facility expands Meritor India's production capacity by 25%, equipping it to better serve customers in the commercial vehicle, off-highway and defense sectors. The research and development center will focus on end-to-end testing and validation of the company's domestic and global product solutions. Meritor India's 18-month project to expand its capacity and capabilities supports the corporation's M2022 plan by focusing on growing revenue, enhancing profitability, maintaining manufacturing excellence and delivering customer satisfaction. (From a press release on August 14, 2019)

R&D Facilities
-The Company has research and development facilities in the following locations:

• Troy, Michigan, U.S.
• Cameri, Italy
• Bangalore, India
• Mysore, India

Product Development
ProTec series 3000 front and rear all-wheel drive beam axles
-The Company announced the launch of ProTec series 3000 front and rear all-wheel drive beam axles, its first purpose-built solutions for Class 5 vehicle applications, such as tactical, fire, rescue and utility vehicles. The ProTec Series 3000 front-drive steer axle features a gross axle weight rating (GAWR) of up to 12,000 pounds - a 4,500-pound increase over other factory OEM-provided equipment - and is pre-drilled and plumbed to accommodate a central tire inflation system. Both front and rear axles are equipped with Meritor’s bevel gear hub wheel-ends, currently in operation on the U.S. military’s Joint Light Tactical Vehicle (JLTV) program vehicles, and feature standard driver-controlled differential lock (DCDL) carriers to enhance mobility. (From a press release on October 14, 2019)