ArvinMeritor Sells Off European Exhaust Division

ArvinMeritor, Inc. announced that it has sold its Light Vehicle Aftermarket (LVA) European exhaust operations to Klarius Group Limited, located in the United Kingdom.
Terms of the sale were not disclosed.
“This transaction completes the divestiture of the LVA business,” said Chip McClure, ArvinMeritor chairman, CEO and president.
“Our strategy is to focus resources and capital on areas within our core businesses that produce the highest returns for our shareowners.”
This divestiture includes approximately 1,000 employees at LVA facilities in Blackpool, Lancaster and Stoke-on-Trent, England; Dreux and Nanterre, France; and Finale Emilia, Italy.
Klarius Group is a privately owned U.K. group established to invest in the European automotive sector.
ArvinMeritor, Inc. is a global supplier of a broad range of integrated systems, modules and components to the motor vehicle industry.
The company serves light vehicle, commercial truck, trailer and specialty original equipment manufacturers and certain aftermarkets. Headquartered in Troy, Mich., ArvinMeritor employs approximately 19,000 people in 25 countries.