ArvinMeritor continues sell-off strategy
TROY, Mich. — ArvinMeritor has sold its North American Light Vehicle Aftermarket exhaust business, including plants in Moncton, N.B. and Loudon, Tenn.
The truck and auto systems company sold the exhaust unit to International Muffler Co., headquartered in Schulenburg, Tex. The terms of the agreement were not disclosed.
About 500 workers at the Moncton and Loudon facilities will be affected.
ArvinMeritor previously announced plans to sell off its replacement auto parts business to focus on vehicle OEM sales and the more lucrative replacement truck parts market.
In October, Carlisle acquired ArvinMeritor’s off-highway brake systems business for about $39 million. And last month, ArvinMeritor sold off its Purolator filter business to Mann-Hummel for $170 million in cash.
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