ArvinMeritor, Inc. (NYSE:.ARM) recently announced 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 President Chip McClure.
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Growth in Asia Pacific, particularly India and China, is a key component of our business strategy,” said Tim Bowes, ArvinMeritor’s vice president and managing director for Asia Pacific. “To support the growth we have planned in this region, we identified the need to increase the size of our engineering footprint in India – which was established more than ten years ago. This new engineering center accelerates our ability to provide advanced product solutions for on- and off-highway, bus and coach, military and other industrial applications.”ArvinMeritor, Inc. is a premier global supplier of a broad range of integrated systems, modules and components to original equipment manufacturers and the aftermarket for the transportation and industrial sectors. The company marks its centennial anniversary in 2009, celebrating a long history of 'forward thinking.' The company serves commercial truck, trailer and specialty original equipment manufacturers and certain aftermarkets, and light vehicle manufacturers. ArvinMeritor common stock is traded on the New York Stock Exchange under the ticker symbol ARM.
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