ArvinMeritor sells its off-highway axle business

ArvinMeritor Inc. announced it has reached agreement for the sale of its off-highway axle business, which principally manufactures planetary axles for off-road applications, to AxleTech International. The sale includes manufacturing sites at Oshkosh, WI, and St. Etienne, France, and the planetary axle operations in Osasco, Brazil, and Seoul, Korea. The sale excludes ArvinMeritor's interest in its joint venture operations in Xuzhou, China. Terms of the sale were not disclosed. The closing of the sale will take place pending certain regulatory approvals.