Emissions unit sold
ArvinMeritor signed an agreement to sell its Emissions Technologies business group to One Equity Partners (OEP) for about $310 million. The transaction is expected to be completed in the third quarter of fiscal-year 2007.
With operations in 19 countries, the unit serves light and commercial vehicle manufacturers worldwide.
After the divesture, two-thirds of ArvinMeritor's customer base will be commercial vehicle-related, versus 47% in 2006.