TROY, Mich.– Meritor, Inc. (NYSE: MTOR) today announced that it has successfully completed its acquisition of AxleTech from global investment firm The Carlyle Group (NASDAQ: CG). The previously announced transaction enhances Meritor’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 & Trailer segment.
“The addition of AxleTech advances our growth strategy while further diversifying our portfolio in strategic, adjacent markets,” said Jay Craig, Meritor’s CEO and president. “We are delighted to welcome AxleTech to the Meritor team with a shared focus on driving superior performance, efficiency and reliability for our global customers with a wider array of products and solutions. We look forward to realizing the benefits of the transaction as we continue executing on our priorities to enhance value for our shareholders, customers and employees.”
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,300 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at http://www.meritor.com.