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ArvinMeritor invests in Brazil

Published Wednesday, August 12, 2009

While investing in one operation, ArvinMeritor is divesting itself of another. The company announced it plans to invest $10 million into its commercial vehicle business in Brazil. That news follows last week’s announcement that the company has entered into agreement to sell its Wheels business to Iochpe-Maxion, a Sao Paulo, Brazil-based producer of wheels and frames. That sale is expected to close by the end of 2009, the company said. “Iochpe-Maxion approached us about acquiring this asset and we determined that selling it was in the best interest in terms of ArvinMeritor’s strategy and the Wheels businesses’ ...

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