Meritor sells Tripmaster business

TROY, Mich. (Dec. 20, 1999) — Meritor Automotive has sold its Tripmaster on-board trip recorder business for heavy trucks to a Texas firm.

The sale was made to Tripmaster Corp. of Arlington, Texas, a newly formed company that will market and support the product on a global basis, Meritor said. Financial terms were not disclosed.

The on-board recorder business did not fit with MeritorÕs focus on developing drivetrain components. Prakash Mulchandani, president of Meritor’s heavy Vehicle Systems business, said in a statement. “We’re concentrating efforts on our core drivetrain components: brakes, axles, transmissions, clutches and drivelines and their related customer-support services, and Tripmaster is not core to that strategic direction.”

Meritor and Tripmaster Corp. would not say how much revenues the business generates annually or how many employees are affected by the deal. Tripmaster said the deal does not include any plants.