United States parts supplier ArvinMeritorInc. said recently that the company has completed the sale of its body system business, which will help the commercial vehicle parts suppliers to achieve profitability.
ArvinMeritor said that the company’s body system business was purchased by IntevaProducts for USD 27.3 million. The business transfer will involve 4,100 employees in 16 countries across the Avanti U.S.
ArvinMeritor Chairman ChipMcClure said: "This business split will help ArvinMeritor continue to develop its core business to achieve financial goals."
It is reported that Inteva Products, a subsidiary of the Renco Group, was approved by the EU management on November 30, 2010 to allow it to acquire ArvinMeritor's body system business. Renco bought Inteva from Delphi two years ago.
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