ArvinMeritor, Inc., today announced that it has completed the sale of its Emissions Technologies business group to One Equity Partners (OEP), an equity investment firm based in New York for approximately $310 million, consisting of cash and other consideration including specified assumed liabilities.
“We are pleased to have completed this transaction and look forward to using the proceeds from the sale to support our continued efforts to strengthen our balance sheet and increase our ability to invest in technology, research and development that aligns with our strategic focus on selected vehicle systems,” said Chip McClure, Chairman, CEO and President.
“Completing the sale of this business is an important milestone for us and underscores our commitment to building value for ArvinMeritor’s shareholders.”
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 24 countries.
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