TROY, Mich. — Meritor, Inc. (NYSE: MTOR) announced that the distribution agreement between it and a subsidiary of WABCO Holdings, Inc. has been terminated, effective March 13, 2020. The company was paid $265 million in connection with the termination of the agreement.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 110-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. The company is based in Troy, Mich. and is made up of approximately 9,100 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Its common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at www.meritor.com.