Parts manufacturer Meritor says it has completed the sale of its axle operation assets in Saint Priest, France, to Renault Trucks, although terms of the sale were not disclosed.
“We believe this transaction takes us another step toward optimising our footprint in Europe,” said Meritor chairman, CEO and president Chip McClure.
Go deeper with GlobalData
“We will retain and continue to invest in our Lindesberg, Sweden and Cameri, Italy, axle facilities with new housing technology, laser welding lines for our 17X and 18x carriers, robotic automations and advanced gear manufacturing capability.”
Renault Trucks is expected to perform only final dressing and painting in the St. Priest, operation. The divestiture affects nearly 400 employees at the France facility who will transfer to Renault Trucks.
“Completing the sale of the St. Priest operation supports our long-term strategy to position the company for profitable future growth,” added McClure.
The company’s facility in Cwmbran, United Kingdom, continues to be Meritor’s centre for the design, development and manufacture of advanced braking systems and components for the commercial vehicle truck market.
