ArvinMeritor, Inc. has entered into an agreement to acquire Mascot Truck Parts Ltd., a remanufacturer of transmissions, drive axle carriers, steering gears and drivelines, based in Mississauga, Ont.
Terms of the acquisition were not disclosed.
Mascot’s 170 full-time employees, six remanufacturing locations and current customer base will become part of the ArvinMeritor team.
“This expansion of our remanufacturing business makes sense for our customers and aligns with our business strategy to grow the aftermarket business,” said Carsten Reinhardt, president of ArvinMeritor’s Commercial Vehicle Systems business.
“Our reputation for quality, customer service, wholesale-only distribution, and extensive product knowledge are considerable assets that we have developed for many years.
“We believe this arrangement between ArvinMeritor and Mascot will offer the market products and services unmatched by our competition,” said Glenn Hanthorn, president of Mascot.
Mascot’s Canadian remanufacturing locations — including three in Mississauga, Ont.; and one each in Edmonton, Alberta; Moncton, New Brunswick; and Boucherville, Que. — as well as its network of logistic centers across North America, will become part of ArvinMeritor’s remanufacturing business.
ArvinMeritor established its axle carrier remanufacturing operation in 1982 at its Florence, Ky., national parts distribution center, and has since moved that operation into a major remanufacturing center that now includes brake shoes, transmissions and trailer axles, with 275,000 sq. ft. and 220 employees in Plainfield, Ind. In late 2006, ArvinMeritor reached two major remanufacturing milestones with production of its 10,000,000th brake shoe and 50,000th axle differential carrier produced for North American customers.