ArvinMeritor to sell facility to Sypris Solutions
Jan 16, 2004 12:00 PM
ArvinMeritor, Inc. by April plans to sell its Kenton, Ohio, facility to Sypris Solutions of Louisville, Kentucky, ArvinMeritor officials said. The sale of the facility, which employs more than 200 persons, will allow ArvinMeritor to focus on its core processes for the design and assembly of complete systems, which consist of axles, brakes, suspension and ride control for trailer products, officials said. Sypris would become a long-term, key supplier of trailer axle beams to ArvinMeritor’s trailer assembly facility in Frankfort, Kentucky. “This divestiture facilitates our long-term growth strategy for the trailer systems business, and permits us to serve and supply our valued customers with technologically advanced trailer axle-brake-suspensions systems,” said Sergio Carvalho, vice president and general manager of ArvinMeritor’s Braking Systems, Suspension Systems, Trailer Products and Ride Control businesses. The sale needs ratification of a new collective bargaining agreement between Sypris Solutions and union members.
