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5. Meritor, Inc. Business Report FY ended Sep. 2017

Meritor, Inc. Business Report FY ended Sep. 2017

Factors
1) Overall
-Sales for fiscal year 2017 were $3,347 million, an increase compared to $3,199 million in the prior year. The increase was primarily due to new business wins and higher truck production in Europe, China and South America, which more than offset lower Class 8 truck production in North America and India.

Business Partnership
-In October 2017, WABCO Holdings Inc announced that it has completed the transaction to purchase Meritor, Inc.'s stake in the Meritor WABCO joint venture and, thereby, take full ownership of the enterprise. With the completion of the transaction, WABCO will now fully integrate the former Meritor WABCO operations into its WABCO North America Business Unit. WABCO has acquired Meritor's stake in the joint venture business for a purchase price of USD 250 million.

-In Sep. 2017, the company announced that it has acquired the product portfolio and related technologies of Fabco Holdings, Inc. and its subsidiaries. With the addition of Fabco’s suite of products, Meritor will have an expanded portfolio of complementary products, including transfer cases, specialty gear boxes, auxiliary transmissions and power take off units (PTOs) for medium, heavy and extra heavy vehicles for on- and off-highway, construction, defense, rail and other industrial applications. The acquisition will help the company diversify its customer base and expand into the rail, oil and gas industries not currently served by Meritor.

Contracts
-The company announced a new five-year agreement with Navistar. Under the terms of the agreement, Meritor retains standard position for brakes and rear axles, as well as standard position for front axles in severe service, medium-duty and bus applications. (From a press release on March 31, 2016)

-Meritor WABCO announced that its SmartTrac electronic stability control (ESC) is featured on Thomas Built Buses' Saf-T-Liner C2 school buses. Starting in September 2015, Thomas Built Buses will offer SmartTrac ESC, an active vehicle safety system that intervenes automatically when there is a high risk of rollover or directional instability that could lead to loss of vehicle control. (From a press release on September 9, 2015)

Awards
-The company announced that it was among 34 suppliers to earn Navistar’s Diamond Supplier Award. Recipients are selected for the award based on their ability to help the OEM improve customer uptime and exceed expectations for quality, delivery, technology and cost. (From a press release on February 20, 2017)

-Meritor WABCO announced that it has received the 2015 Masters of Quality Supplier Award from Daimler Trucks North America (DTNA). The honored suppliers represent the top-quality providers of components and services for DTNA's Freightliner and Western Star truck brands. Two of Meritor WABCO's production facilities received the award: Hebron, Kentucky, United States and Monterrey, Nuevo Leon, Mexico. (From a press release on September 6, 2016)

-Meritor WABCO announced that it has received the 2014 Excellence in Quality Award from Hino Motors Manufacturing U.S.A., Inc. Meritor WABCO has been recognized with this award five times in the past seven years. Meritor WABCO supplies Hino with pneumatic and hydraulic anti-lock braking systems (ABS) for commercial vehicles built in Williamstown, West Virginia, USA and Woodstock, Ontario, Canada. In addition to the zero PPM quality performance for Hino, Meritor WABCO's on-time delivery performance was 100 percent for 2014. (From a press release on July 21, 2015)

R&D Facilities

Product Development

Electric Drive Axles/Suspensions, Supporting systems
-The company announced it is developing a platform of electric drive axles and suspensions as well as supporting systems to position Meritor as a leader in electric solutions for the commercial vehicle market. The following near-term electrified product solutions are under development: integrated two-speed electric carrier platform, 13Xe rigid axle, electric-driving independent suspension for applications such as military, off-highway and construction vehicles, electric eCorner module for low-floor applications. Meritor will also offer braking systems optimized for e-axles. The components will be part of a demonstration vehicle to be built in 2018, with production beginning as early as 2019. (From a press release on September 26, 2017)

Products development by joint venture between the company and Kalyani Group establised in 1981
-A special axle called Tridem, which offers equal torque split among the axles.
-Customized Tractor, Loader & Backhoe axles. Drawings released and parts are under development with new type of seals called face seals and an adaptation of the wet disc brakes.
-Prototypes of the MT846 medium hub reduction axle with bevel wheel ends.
-Design of 15I axle is complete to replace MS1497 with better durability with new gear design and axle efficiency. Parts development in progress.
-Designed axle for overseas market under new housing for MT1497 and MS160 with higher housing thickness to protect against overloads.
(From Automotive Axles annual report for FY 2016-17)

13X Drive Axle
-The company has unveiled the 13X drive axle for Class 6 and 7 applications. It will be available for OEM production starting in the second quarter of 2016. Available in a wide variety of ratios from 3.90 to 6.50 and with gross axle weight ratings (GAWR) between 17,000 and 21,000 pounds, the 13X is offered with standard differentials and is compatible with air drum or hydraulic disc brakes as well as parking brakes. (From a press release on February 28, 2016)

Front Steer Axle
-The company announced that it has unveiled the Meritor Front Steer axle (MFS+). The new lighter-weight, front-steer axle has a gross axle weight rating (GAWR) between 12,000 and 13,200 pounds. The MFS+ saves up to 85 pounds from the current offering. (From a press release on February 28, 2016)

Collision Mitigation System (OnGuard)
-Meritor WABCO announced the OnGuard Collision Mitigation System is now available for use in medium-duty trucks, another first in the industry. Used extensively in heavy-duty trucks since 2007, OnGuard is North America's leading collision mitigation system, with more than 90,000 systems and over 32 billion miles now on the road. A new member of the OnGuard family to be made available to medium- and heavy-duty trucks in 2016 is OnGuardACTIVE, which warns and brakes when detecting stationary objects, to mitigate or possibly avoid a potential accident. (From a press release on September 3, 2015)