Meritor Inc. on Tuesday, Jan. 3, announced that it has completed the sale of the assets of its axle operation in Saint Priest, France, to Renault Trucks SAS. Terms were not disclosed.
“We believe this transaction takes us another step toward optimizing our footprint in Europe,” says Chip McClure, Meritor chairman, chief executive officer and president. “We will retain and continue to invest in our axle facilities in Lindesberg, Sweden, and Cameri, Italy, with new housing technology, laser welding lines for our 17X and 18x carriers, robotic automations and advanced gear manufacturing capability.”
Renault Trucks is expected to perform only final dressing and painting in the St. Priest operation. The divestiture affects nearly 400 employees at the France facility who will transfer to Renault Trucks. “Completing the sale of the St. Priest operation supports our long-term strategy to position the company for profitable future growth,” McClure says.
The company’s facility in Cwmbran, United Kingdom, continues to be home to Meritor’s center of expertise for the design, development and manufacture of advanced braking systems and components for the commercial vehicle truck market.