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5. Meritor, Inc. Business Report FY ended Sep. 2018

Meritor, Inc. Business Report FY ended Sep. 2018

Factors
1) Net Sales
-The Company’s sales for the fiscal year ended September 30, 2018 were USD 4,178 million, an increase of 24.8% over the previous fiscal year. The increase in sales was primarily due to increased production across all of the Company’s major markets. The Company’s sales also benefited by increased market share and new business, as well as a full year’s worth of sales from the Fabco business acquired in the fourth quarter of the fiscal year ending September 30, 2017.

2) Commercial Truck & Trailer
-The Company’s Commercial Truck & Trailer segment’s sales increased by 28.5% to USD 3,171 million in the fiscal year ended September 30, 2018, due to increased production across all of the Company’s major markets, increases in market share, and new business wins.

Acquisitions
-The Company announced that it acquired substantially all of the assets of AA Gear & Manufacturing. Inc. and it subsidiaries. AA Gear & Manufacturing is a supplier that provides low-to-medium volume manufacturing for complex gear and shaft applications as well as rapid prototyping solutions. AA Gear & Manufacturing serves the agriculture, construction, heavy truck, industrial and automotive markets. (From a press release on April 30, 2018)

Restructuring
-WABCO Holdings Inc announced that it has completed the transaction to purchase the Company’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 acquired the Company’s stake in the joint venture business for a purchase price of USD 250 million. The former joint venture employs approximately 200 persons and had sales of USD 300 million in fiscal year 2016. It currently sells and distributes a range of WABCO's safety and efficiency technologies for commercial vehicles in North America. (From a press release on October 3, 2017)

Contracts
-Through its alliance with TransPower, the Company will supply all-electric drivetrain systems for two Peterbilt vehicle platforms. The drivetrain systems used by the vehicle platforms are specifically designed for drayage and refuse applications, as the platforms will be used for models including 12 day cab tractors and three refuse trucks. The Company will provide axles, drivelines and brakes for the platforms, while TransPower will supply electric drivetrain power systems, control systems, batteries and accessories. (From a press release on May 1, 2018)

-The Company announced that EX+ L air disc brakes will be standard on all wheel positions for Daimler Trucks North America’s (DTNA) new Freightliner Cascadia model to further enhance safety and performance beginning in the second quarter of 2018. The EX+ L has been weight-optimized without sacrificing performance and is the industry’s lightest truck air disc brake. (From a press release on March 5, 2018)

Recent Developments
-The Company announced a new advanced technology brand, Blue Horizon, which is focused on the Company’s electric drivetrain, efficiency and connectivity systems. Products offered under the brand included integrated electrified solutions for Class 4 to Class 8 commercial vehicles. The Company’s electric drivetrain solutions offered under the brand will feature an integrated eCarrier which uses an electric motor in the axle to power the vehicle. This enables a reduction in cost and weight due to the elimination of the driveline and drivetrain mounting components. (From a press release on May 1, 2018)

-The Company announced a strategic investment in TransPower, a leader in electrification technologies for large commercial vehicles. Terms of the transaction were not disclosed. California-based TransPower supplies integrated drive systems, full electric truck solutions and energy-storage subsystems to major manufacturers of trucks, school buses, refuse vehicles and terminal tractors. The company has been focused exclusively on developing electrical drive solutions for more than seven years. With its investment in TransPower, the Company expects to accelerate introduction of its flexible electric axle platform for various drivetrain configurations, including full electric, hybrid, single or tandem axles. (From a press release on December 7, 2017)

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
Hydraulic actuation on ELSA disc brakes
-The Company announced that optional hydraulic actuation is available on all ELSA disc brakes for applications requiring hydraulic disc brake variants. The mechanical, pneumatically operated brake housing of the current range is replaced by a hydraulic single or twin piston variant. The bridge, carrier and slide pin arrangements remain common across pneumatic and hydraulic variants. Pads can also be common and will be available in pad areas from 107-226 square centimeters. The new option covers brakes for wheels between 17.5 and 25 inches. Rotor diameter varies from 324 mm to 500 mm. (From a press release on September 19, 2018)