ArvinMeritor on Friday said it had completed the sale of its Emissions Technologies business group to One Equity Partners, an equity investment firm based in New York for approximately $US310m, consisting of cash and other consideration including specified assumed liabilities.
"We are pleased to have completed this transaction and look forward to using the proceeds from the sale to support our continued efforts to strengthen our balance sheet and increase our ability to invest in technology, research and development that aligns with our strategic focus on selected vehicle systems," said Chip McClure, AM's chairman, CEO and president.
"Completing the sale of this business is an important milestone for us and underscores our commitment to building value for ArvinMeritor's shareholders."
All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: firstname.lastname@example.org.
Anytime and anywhere to know the dynamics of China's auto industry