ArvinMeritor Sells European LVA Operations

Vehicle systems and components manufacturer ArvinMeritor reported on August 7 that its Light Vehicle Aftermarket (LVA) European exhaust operations has been sold to the UK based automotive sector investor Klarius Group. Terms of the sale were not disclosed. This sale affects includes employees at the company’s UK LVA facilities in Blackpool, Lancaster and Stoke-on-Trent, as well as those at plants in Dreux and Nanterre in France, and Finale Emilia in Italy.

“This transaction completes the divestiture of the LVA business,” said Chip McClure, ArvinMeritor chairman, CEO and president. “Our strategy is to focus resources and capital on areas within our core businesses that produce the highest returns for our shareowners.”

McClure added, “Completing the sale of LVA is another recent achievement toward strengthening the company and positioning ourselves for profitable future growth.”