ArvinMeritor Inc. said it will create two joint ventures with Volvo Group that would expand ArvinMeritor's capacity to produce commercial vehicle drive axles.
The joint ventures would assume control and operation of two Volvo Group manufacturing operations in Lyon, France next year. ArvinMeritor management would operate the two facilities, an axle plant and a foundry.
Details of the pending agreement have yet to be finalized, but ArvinMeritor said the deal would result in the manufacture and distribution of more than 100,000 axles annually.
