Meritor, Inc.
Company Profile
Business Overview
-The company is a supplier of drivetrain systems and components for commercial vehicles, other transportation equipment, and industrial vehicles, as well as trailer undercarriage products and systems.
-Cummins has completed the acquisition of Meritor, Inc. on August 3, 2022.
Shareholders
-Delisted from the NYSE in August 2022 following its acquisition by Cummins.
Products
Axles
-Single rear-drive axles
-Tandem rear-drive axles
-Front drive axles
-Front non-drive axles
-Tridem rear-drive axles
-Trailer axles
-Center and tag axles
ePowertrains
Brakes
-Air disc brakes
-Drum brakes
-Quadraulic disc brakes
-Automatic slack adjusters
-Wheel ends
Carriers
Precision-forged gears
Drivelines
Gearboxes
-Gearboxes
-Split-shaft power take-off units
-Creeper drives
-Power dividers
Meritor Tire Inflation System
Suspensions
-Trailer suspensions
Transfer cases
Auxiliary transmissions
History
| 2000 | Established by the merger of Meritor Automotive Inc. and Arvin Industries Inc. |
| 2002 | Acquired the remaining 51% interest its German joint venture Zeuna Starker GmbH & Co. KG, a premier exhaust and emissions solutions company. |
| 2004 | Roll Coater was sold to Willis Stein & Partners. |
| 2004 | Dedicated the new USD 40 million Detroit Technology Center, its new technology center for Light Vehicle Systems (LVS) operations in North America, located in Detroit, Michigan, USA. |
| 2007 | Acquired Mascot Truck Parts Ltd., a major remanufacturer of transmissions, drive axle carriers, steering gears and drivelines, based in Mississauga, Ontario, Canada. |
| 2007 | The Emissions technologies (ET) business was sold for USD 310 million to One Equity Partners (OEP), an equity firm based in New York. |
| 2008 | Started production at new facility in Salonta, Romania. |
| 2008 | Opened new tech center in Shanghai, China. |
| 2008 | Acquired Trucktechnic, a major remanufacturer in Liege, Belgium. |
| 2008 | Opened new facility in Monterrey, Mexico. |
| 2009 | Completed the sale of its Gabriel Ride Control Products North America (Gabriel Ride Control) business to Ride Control, Llc, a wholly owned subsidiary of OpenGate Capital, a private equity firm. |
| Jun. 2009 | Sold its 51 percent interest in Gabriel de Venezuela to its joint venture partner. |
| Sep. 2009 | Completed the sale of its Wheels business to Iochpe-Maxion S.A., a Brazilian producer of wheels and frames for commercial vehicles, railway freight cars and castings. Opened a new technical center in Bangalore, India. |
| Oct. 2009 | Entered into a binding letter of intent to sell its 57 percent interest in Meritor Suspension Systems Company (MSSC), a joint venture, to its joint venture partner, a subsidiary of Mitsubishi Steel Mfg. Co., Ltd. |
| 2011 | Completed the divestiture of its light vehicle business in January 2011 and officially changes the name of the Company back to Meritor. |
| Divested its Body System business to Inteva Products, LLC. | |
| Jan. 2012 | Completed the sale of the assets of axle operation in France, to Renault Trucks SAS. |
| Sep. 2012 | Announced an incremental investment of 16 million USD in its European brake operations. |
| Jul. 2013 | Completed the sale of its 50 percent ownership interest in Suspensys Sistemas Automotivos Ltda. to its joint venture partner Randon S.A. Implementos e Participacoes. The purchase price at closing for Meritor's ownership interest was USD 195 million. |
| Jul. 2015 | Purchased the majority of the assets at the Sypris Solutions, Inc. manufacturing facility in Morganton, North Carolina, U.S. |
| Sep. 2017 | Acquired the product portfolio and related technologies of Fabco Holdings, Inc. |
| Oct. 2017 | Completed transaction to sell the Company’s stake in the Meritor WABCO joint venture to WABCO Holdings, Inc. for USD 250 million. |
| Apr. 2018 | Acquired AA Gear & Manufacturing. |
| May 2022 | Acquired Siemens Commercial Vehicles business. |
| Aug. 2022 | Cummins Inc. completed acquisition of Meritor, Inc. |
Supplemental Information 1
>>>Business Report FY ended Sep. 30, 2006
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>>>Business Report FY ended Sep. 30, 2020
>>>Business Report FY ended Sep. 30, 2021
Note: A figure in brackets ( ) indicates a loss
