ArvinMeritor said on Wednesday that it had agreed to buy the remaining 51% interest it does not already own in German joint venture Zeuna Starker GmbH & Co. for about $US75 million, Reuters reported.
Go deeper with GlobalData
According to the news agency, ArvinMeritor said it was buying out the venture, which specialises in exhausts and emissions technology, in order to create a complete range of emissions products and expects to close the deal in the second quarter of 2003.
ArvinMeritor become a 49% partner in Zeuna Starker in 1998, Reuters added.
