ArvinMeritor has reached agreement for the sale of its off-highway axle business, which principally manufactures planetary axles for off-road applications, to AxleTech International of Troy, MI, an affiliate of Wynnchurch Capital, Limited.
The sale includes manufacturing sites at Oshkosh, WI, and St. Etienne, France, and the planetary axle operations in Osasco, Brazil and Seoul, Korea. The sale excludes ArvinMeritor’s interest in its joint venture operations in Xuzhou, China.
ArvinMeritor’s Tom Gosnell, president, Commercial Vehicle Systems, emphasized that the sale also does not include ArvinMeritor’s on-highway drivetrain, trailer axle, suspensions or specialty products businesses.
‘ArvinMeritor remains committed to these core businesses that serve a wide array of global markets, including on-highway medium- and heavy-duty trucks, trailers, buses and coaches, military, construction, utility, and emergency vehicles,’ Gosnell said.
Terms of the sale were not disclosed. The closing of the sale will take place pending certain regulatory approvals.