ArvinMeritor Divests Additional Business

Systems and components supplier ArvinMeritor reached an agreement on June 29 to divest another of its light vehicle chassis businesses, bringing the total number of units divested this year to three. The company reached a definitive agreement to sell its Gabriel Ride Control Products North America business to private equity firm OpenGate Capital.

The company notes that the sale of the US portion of Gabriel Ride Control Products North America has been completed. The closing of the transaction for the subsidiary in Mexico will be completed once the license agreements and pending permits have been finalised, which the company expects will occur within two months. During the time that final approvals are in process, the business will continue to serve its customers and operate as usual.

The sale of ArvinMeritor’s Gabriel Ride Control Products North America business, along with the previously announced divestitures of Meritor Suspension Systems Company (MSSC) and Gabriel de Venezuela, largely complete the divestiture of Chassis Systems.