- Meritor (NYSE:MTOR) has acquired the product portfolio and related technologies of Fabco Holdings and its subsidiaries for an undisclosed term.
- This transaction allows Meritor to offer global customers a wider breadth of capabilities and an expanded portfolio of complementary products.
- The acquisition will also help the company diversify its customer base and expand into the rail, oil and gas industries not currently served by Meritor.
- "Acquiring this suite of products and technologies provides Meritor with new products and customers in important markets that we expect will contribute to significant growth in our Specialty, Defense and Off-Highway business units," said Jay Craig, CEO and president. "This transaction fits well with our plan to pursue strategic growth initiatives, while maintaining a balanced approach to capital allocation as part of our M2019 plan."
- Press Release
- Now read: Auto ETFs And Stocks To Ride Out Harvey Disaster
Original article