Car element producer Meritor will purchase drivetrain firm AxleTech for $175 million in an effort to develop its off-highway, protection, and aftermarket segments. AxelTech’s choices embody a line of unbiased suspensions, axles, braking options, and drivetrain elements. The corporate lately launched a brand new line of electrical powertrain methods for off-highway purposes.
Jay Craig, Meritor’s CEO and President, stated, “The addition of AxleTech is a compelling value-creating alternative to broaden our place in engaging, adjoining markets and advances our M2022 technique. Meritor’s technical experience, operational excellence and confirmed observe file might be a robust platform to speed up progress. Our product portfolios are extremely complementary and we share a dedication to our individuals and prospects.”
Invoice Gryzenia, AxleTech CEO, stated, “AxleTech has positioned itself as a robust, superior drivetrain options producer within the off-highway and protection market segments. These options vary from heavy-duty axles to new re-manufacturing capabilities and electrical powertrain methods for our world buyer base.”