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Article: ArvinMeritor Completes Sale of Meritor Suspension Systems Company.
- Article from:
- PR Newswire
- Article date:
- October 30, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TROY, Mich., Oct. 30 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. announced today that it has completed the sale of its 57-percent stake in the Meritor Suspension Systems Company (MSSC) joint venture to Mitsubishi Steel Mfg., LTD (MSM) for approximately $13 million, which included a $12 million cash dividend received by ArvinMeritor in the third quarter.
"The completion of this transaction is another milestone toward ArvinMeritor focusing primarily on supplying advanced product solutions for commercial trucks and trailers, on- and off-highway applications for military, construction and bus and coach, and the aftermarket," said ArvinMeritor's Chairman, CEO and ...