Meritor
Meritor, Inc. (NYSE: MTOR) is an American corporation headquartered in Troy, Michigan, which manufactures automobile components for military suppliers, trucks, and trailers. Meritor is a Fortune 500 company.[2]
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Formerly | ArvinMeritor |
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| Public | |
| Traded as | NYSE: MTOR S&P 600 Component Russell 2000 Component |
| ISIN | US59001K1007  |
| Industry | Commercial vehicles systems and components |
| Predecessor | Rockwell International |
| Founded | 1997 |
| Founder | N/A |
| Headquarters | 2135 W. Maple Road, Troy, MI 48084 , United States of America |
Number of locations | 39 sites (2016) |
Area served | Worldwide |
| Revenue |
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| Total assets |
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| Total equity |
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Number of employees | 8,200[1] (2017) |
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| Website | www.meritor.com |
| Footnotes / references | |
In 1997, Rockwell International spun off its automotive business as Meritor. In 2000, ArvinMeritor was formed from the merger of Meritor Automotive, Inc., and Arvin Industries, Inc.[3]
On February 1, 2011, it was announced that the company would revert its name to Meritor, Inc. at the Mid-American Truck Show in late March.[4] The name change was successfully completed and launched on March 30, 2011.
Executive Management
Charles "Chip" McClure, former president and COO of Federal Mogul Corp., served as the CEO of Meritor from 2004 to 2013. Under his executive management, Meritor completed the divestiture of the passenger vehicle business segment in January 2011. This officially categorized this global manufacturer/supplier outside of the automotive industry. With its focal point on commercial vehicle system component production, Meritor announced continuous sales loss with total revenue at $63 million in 2011 and $52 million in 2012. August 2013, Ivor J.”Ike” Evans was named as the new interim CEO of Meritor, who has been a member of Board of Directors of Meritor Inc. since 2005. Ivor Evans served as the president and chief operating officer of Union Pacific Railroad from 1998 to 2004, and as the vice chairman of Union Pacific Cooperation from January 2004 to 2005. In July 2015, Jeffrey "Jay" Craig was named CEO of Meritor. [5]
Core Business
The business of Meritor consists of axles, brake and safety systems, drivelines, suspensions, trailers, aftermarket solutions for defense industries and commercial vehicles including truck, trailer, bus/coach, and off-highway. Meritor engineers diversiform products supplying different OEMs including Daimler, Navistar, and Volvo.[5]
Business Distribution
North America
Employing more than 4700 employees, the business facilities in North America contain various distribution locations in Canada, multiple production plants in Mexico, and facilities of administration, production, distribution, sales, and technical centers in the United States.[5]
South America
The Meritor business in South America, which was established in Brazil, employs more than 1700 employees. There are four manufacturing facilities, one distribution center, two engineering centers, three administrative offices, and one sales office.[5]
Europe
As of 2013, Meritor has administrative offices distributed in France, Netherlands, Russia, Switzerland, Turkey, and United Kingdom,and production facilities in Italy, Sweden, Belgium, United Kingdom, as well as France, and one sales location in Spain.[5]
Asia Pacific
Meritor launches productions in Australia and Singapore, as well as development joint ventures, distribution centers, and sales locations in China and India. The company employs nearly 1800 employees in Asia Pacific region and has been present in the region for close to 30 years.[5]
References
- "Brink's". Fortune. Retrieved 2019-02-19.
- "Fortune 500 2006: ArvinMeritor". CNN. Retrieved 2006-11-11.
- "ArvinMeritor history". Retrieved 2012-09-11.
- Woodall, Bernie (February 1, 2011). "UPDATE 1-ArvinMeritor posts loss, changing name". Reuters.
- "meritor". meritor.com. meritor inc. 2013. Retrieved 16 September 2013.
External links
- www.referenceforbusiness.com — History of Arvin Industries, Inc.