February 5, 2007 — Auto-parts producer ArvinMeritor Inc. agreed to sell its Emissions Technologies business to a private-equity group, One Equity Partners, for cash and other consideration totaling approximately $310 million. Chairman, CEO, and president Charles G. McClure called the sale "part of our long-term strategy to refocus our company and concentrate on the strengths and core competencies that will generate future earnings growth for ArvinMeritor."
McClure added that the the proceeds from the sale will strengthen the company's balance sheet and increase its ability to invest in technology, research, and development "that more closely aligns with our strategic focus on selected vehicle systems."
ArvinMeritor's strategy is concentrated on light and commercial vehicle businesses where it has successful products, strong market positions, and higher margins. Categories it lists include chassis systems, drivetrain systems, and apertures.
McClures said the company will continue to look for ways to diversify it customer base with a global presence and a broad product portfolio. He indicated the company will be aggressive in Asia and in increasing its global aftermarket and specialty businesses.