Diversified manufacturer Carlisle Cos. Inc. said it has bought the off-highway brake assets of auto and truck parts maker ArvinMeritor Inc. for about $39 million. The deal includes manufacturing assets from the ArvinMeritor facilities in York, S.C., and Cwmbrain in South Wales, U.K.
“We are very excited to be expanding our off-highway braking business which serves one of our most profitable market segments,” said Richmond McKinnish, Carlisle’s President and CEO. “This acquisition strengthens one of Carlisle’s core businesses and is in line with our overall strategy to achieve and maintain leadership in the markets we serve.”
Carlisle provides off-highway braking systems and specialty friction products through its Carlisle Industrial Brake & Friction unit and on-highway heavy-duty braking and friction products through Carlisle Motion Control.
The sale also continued ArvinMeritor’s move away from the off-road business. The company sold its off-highway axle business to AxleTech in 2002. “The divestiture of ArvinMeritor’s off-highway brakes operation is aligned with the company’s strategy to focus on its core products within the Light and Commercial Vehicle Systems businesses,” said Chip McClure, ArvinMeritor chairman, CEO and president. “We will continue to offer a complete range of on-highway braking systems and components designed to meet the sophisticated needs of the commercial vehicle industry, both for our original equipment production and aftermarket customers around the world.”