ArvinMeritor announced the sale of its off-highway brake assets to Carlisle Braking Products for approximately $39 million. The transaction, announced Thursday, Oct. 6, includes manufacturing assets from the ArvinMeritor facilities in York, S.C. and South Wales, U.K.
“The divestiture of ArvinMeritor’s off-highway brakes operation is aligned with the company’s strategy to focus on its core products within the light and commercial vehicle systems businesses,” said Chip McClure, ArvinMeritor chairman, CEO and president.
Troy, Mich.-based ArvinMeritor sold its off-highway axle business to AxleTech International in December 2002.
“We will continue to offer a complete range of on-highway braking systems and components designed to meet the sophisticated needs of the commercial vehicle industry, both for our original equipment production and aftermarket customers around the world,” McClure said.
Carlisle Braking Products is owned by Carlisle Companies, based in Charlotte, N.C. Carlisle is a diversified global manufacturing company serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, food service, data transmission and process systems industries.
“We are very excited to be expanding our off-highway braking business, which serves one of our most profitable market segments,” said Richmond McKinnish, Carlisle’s president and CEO. “This acquisition strengthens one of Carlisle’s core businesses and is in line with our overall strategy to achieve and maintain leadership in the markets we serve.”
