Meritor reports solid sales, divestment of body biz

TROY, Mich. – ArvinMeritor says it is selling its body systems business for $35 million.

The truck component systems supplier says it will sell the unit to an affiliate of Inteva Products LLC, a wholly owned subsidiary of The Renco Group.

Meanwhile, ArvinMeritor’s fiscal third-quarter loss narrowed considerably from 2009 as sales improved.

Its net loss was $3 million compared with a loss of $164 million in the same quarter a year ago.

Sales ending June 30 rose 35 percent to $1.3 billion, indicating "continued strength in the emerging markets and improvements in our North American and European customer markets," said Chip McClure, ArvinMeritor’s chairman and CEO.

Sales in the aftermarket and trailer segments sales rose to $257 million from $231 million in 2009, while its light vehicle systems segment’s sales rose to $309 million, from $259 million.