CHARLOTTE, N.C. (Oct. 10, 2005) — Carlisle Companies Inc. has acquired the off-highway brake assets of ArvinMeritor Inc. for approximately $39 million.
The transaction includes manufacturing assets from ArvinMeritor facilities in York, S.C., and Cwmbran, South Wales, United Kingdom. Carlisle provides off-highway braking systems and specialty friction products through Carlisle Industrial Brake & Friction and on-highway heavy-duty braking and friction products through its Carlisle Motion Control unit.
Carlisle President and CEO Richmond McKinnish said the company is “very excited to be expanding our off-highway braking business, which serves one of our most profitable market segments. This acquisition strengthens one of Carlisle's core businesses and is in line with our overall strategy to achieve and maintain leadership in the markets we serve.”
Carlisle is a diversified global manufacturer serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, foodservice, data transmission and process systems industries.
“The divestiture of ArvinMeritor's off-highway brakes operation is aligned with the company's strategy to focus on its core products within the light and commercial vehicle systems businesses,” said Chip McClure, chairman, CEO and president of Troy, Mich.-based ArvinMeritor. “We will continue to offer a complete range of on-highway braking systems and components designed to meet the sophisticated needs of the commercial vehicle industry, both for our original equipment production and aftermarket customers around the world.”
The company sold its off-highway axle business to AxleTech International of Troy in December 2002.
ArvinMeritor is a global automotive supplier of products for the light vehicle, commercial truck, trailer and specialty original equipment manufacturers and related aftermarkets. Among its product lines are suspension modules, exhaust systems, emissions controls, steel wheels, anti-lock braking systems, drivelines, suspensions, axles, clutches, tire inflation systems and other truck-related parts and components. The company had more than $8 billion in sales in 2004.