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Meritor Appoints Stephen Gudgel, Managing Director, Axles & Drivelines, Commercial Truck, Europe
  
May 18 2012

TROY, Mich. (May 18, 2012) – Meritor, Inc. (NYSE: MTOR) has appointed Stephen Gudgel to the position of managing director, Axles & Drivelines, Commercial Truck, Europe, effective immediately.

 

In this position, Gudgel is responsible for driving the strategic growth and profitability of the business, and managing our significant customer relationships in the region.

 

“Steve is a great asset to our European organization,” said Tim Bowes, president, Commercial Truck, Meritor. “His significant business, operations and plant management experience combined with his industry knowledge will be key as we continue our growth in Europe.”

 

Gudgel was formerly general manager, Operations, Europe. Prior to joining Meritor in December 2008, he served as vice president, Operations, Electrical Aftermarket for Remy International in Anderson, Ind. He spent 10 years at Remy in a variety of leadership positions of increasing responsibility. Before joining Remy, Gudgel spent several years with Delphi and Delco-Remy in plant management and operations roles.

 

He holds a Bachelor of Arts degree in economics from Indiana University.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s web site at meritor.com.

 

CONTACTS:


Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com  

 

Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Vehicle Dynamics Mobile Laboratory Enables Advanced Field Testing Capabilities
  
Jun 12 2012

TROY, Mich. (June 12, 2012) – Meritor, Inc. (NYSE: MTOR) offers unique capabilities with its Vehicle Dynamics mobile laboratory. Traveling throughout North America, various products and capabilities are tested on location including:

 

·         Truck and Trailer: SMARTandem® axle, tire inflation systems and drum and air disc brake development;

·         Specialty and Off-Highway: Adaptive damping systems for off-highway seats, as well as bus and fire truck suspensions;

·         Defense: The ProTec™ High Mobility Independent Suspension (HMIS), adaptive damping systems, tire inflation systems and suspension height control are tuned for best performance in the specific combat environment in which they will be used.

 

 “Meritor’s remote testing capabilities are critical to product development,” said Tim Burns, vice president and general manager, Defense & Specialty, Meritor.” The lab allows us to provide on-site support at U.S. Government and independent test sites across North America. The lab’s vehicle test data acquisition capability reduces development time by allowing immediate optimization of ride and handling characteristics so we can tune the products to best fit real-world environments.”

 

Meritor’s Vehicle Dynamics laboratory is outfitted with advanced chassis development equipment including two shock dynamometers, a 50-ton press, a coil spring compressor for oversized military high-rate springs, a large wet bench and alignment equipment. It also has video equipment for documentation and is connected directly to the company’s Development Center in Troy, Mich. through a wireless network.

 

“This direct link allows data transmission back and forth for additional analysis by the vehicle dynamics and controls teams. The information is correlated on the full vehicle simulator in the Troy test lab, which further proves product performance and capabilities,” said Simon Dean, senior director, Advanced Engineering & Electronics, Meritor. “Combined with our technical expertise in Troy, the lab’s vehicle test data acquisition capability allows us to deliver the most advanced products with world-class quality while meeting the needs of our customers.”

 

The company recently redesigned its Vehicle Dynamics laboratory trailer with a new graphic wrap that looks like the rear door is open and employees are hard at work inside – earning it recognition by Fleet Owner magazine in its 2012 vehicle graphics awards highlighted in the June issue.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
John Clark

(248) 435-1750

john.clark@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor WABCO’s Morrison Speaks on Innovation ROI and Advanced Safety at Commercial Vehicle Megatrends Conference
  
Jun 14 2012

TROY, Mich. (June 14, 2012) Jon Morrison, president and general manager, Meritor WABCO made remarks pertaining to “Innovation ROI” during today's Commercial Vehicle Megatrends USA 2012 conference in Dearborn, Mich., at The Henry.

 

Morrison’s remarks emphasized the potential return on investment for operators leveraging four main areas of innovation: improving driver and highway safety; increasing vehicle uptime; avoiding accidents and increasing fleet efficiency.

 

Morrison confirmed that Meritor WABCO’s SmarTrac™ Electronic Stability Control (ESC) technology ensures that truck tractors and motorcoaches can meet the stringent standard for ESC systems as recently proposed by the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA).

 

Citing a study by the University of Michigan Transportation Research Institute, Morrison said there are approximately 6,900 rollover accidents involving 200 fatalities annually. The use of ESC technology could help drivers avoid up to 56 percent of rollover crashes each year – the deadliest among all crash types, according to NHTSA research.

 

Morrison added that integrated safety systems offer several advantages including reduced vehicle downtime, risk reduction and assistance for less experienced drivers.

 

Meritor WABCO has a track record of being first-to-market with breakthrough safety innovations that save lives and improve vehicle performance, and Morrison shared further information on the next-generation OnGuard™ Plus collision mitigation system. OnGuard Plus reacts to moving vehicles and decelerating vehicles ahead that come to a standstill. Its emergency braking can help the driver bring the vehicle to a complete stop. In case of stationary vehicles ahead, the system warns the driver and autonomously applies partial braking. This advanced safety function is the industry’s only innovation of its kind in North America.

 

“At Meritor WABCO, we are on the leading edge of safety technology that helps to reduce accidents and potentially save lives, as operators strongly benefit from additional returns on investment in innovation such as saving money through risk reduction,” Morrison said. “ESC and OnGuard Plus further demonstrate why Meritor WABCO leads the industry in the number of breakthrough technologies in North America, resulting in stronger safety and smarter efficiency for commercial vehicles.”

 

About Meritor WABCO

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency-smart components.  These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading global suppliers back Meritor WABCO, each with more than 100-year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides the JV the industry’s most extensive service and support network; while WABCO Automotive Control Systems, Inc., a wholly-owned subsidiary of WABCO Holdings, Inc. (NYSE:WBC) provides breakthrough technologies and control systems for the safety and efficiency of commercial vehicles.  For more information, visit meritorwabco.com.

 

Media Inquiries
John Clark

(248) 435-1750

john.clark@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Adds New Equipment to Respond to Customers’ Demand for Remanufactured Components
  
Jun 20 2012

PLAINFIELD, Ind. (June 20, 2012) – To meet its North American customers’ growing need for remanufactured components, especially brake shoes, Meritor has announced the continuance of investment in improvements at its remanufacturing facility in Plainfield, Ind. Doug Wolma, general manager, Global Aftermarket Operations, Meritor, announced the improvements during an industry media briefing today.

 

Valued at $2.7 million, the improvements include six new pieces of production equipment, all currently installed and operational: two pass-thru ovens to aid in cleaning efficiencies, two latest-technologies “barrel blasters” (which replace 14 pieces of equipment previously used), an additional dual-cylinder coining press, and new automation to feed equipment with less material handling. 

 

“This major investment in production equipment underscores our commitment to continuing Meritor’s leadership position in the global remanufacturing business,” said Joe Mejaly, president, Aftermarket and Trailer, Meritor.  “We are dedicated to further enhancing our capabilities in remanufacturing technology to be the partner of choice for truck operators of all sizes, as well as dealers and distributors.”

 

Additionally, the 275,000-square-foot Plainfield structure recently underwent a significant facility upgrade. Three years ago, the company invested $1 million in its paint system, a critically important step in manufacturing the market-accepted Meritor PlatinumShield™ reman brake shoe. 

 

With more than 15 million PlatinumShield brake shoes in service, along with thousands of Meritor brand and all-makes axle carriers, transmissions, hydraulic brake calipers, steering gears and drivelines, Meritor is leveraging its experience to enhance the performance of current product lines and grow its remanufactured product portfolio. According to Wolma, this demand for remanufactured product will grow in the future.

 

“We see the scope going beyond the mechanical type products remanufactured in large quantities today and expanding into more sophisticated electronic components,” said Wolma. “Our product portfolio will grow, change, shift, and broaden to include electronics, controls and mechatronics.”

 

More truck owners are opting for remanufactured components for reduced costs and nationwide warranty. Recently, the increased number of remanufactured components has matched the influx of used trucks in the marketplace.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
John Clark

(248) 435-1750

john.clark@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com
Press ReleaseCompanyGlobal 
Meritor’s Environmentally Friendly Remanufacturing Efforts Promote Fleet Efficiency
  
Jun 20 2012

PLAINFIELD, Ind. (June 20, 2012) – Meritor®, Inc. (NYSE: MTOR) promotes the remanufacturing of commercial truck and trailer components because it is environmentally friendly, creates jobs and improves fleet efficiency. Due to the growth of remanufactured component sales, Meritor invested $2.7 million in equipment for its Plainfield, Ind. facility.

 

The Plainfield site remanufactures commercial truck components, which preserves raw materials. More than 30,000 tons of metal are recycled annually in Meritor’s remanufacturing operations worldwide, and the company recycles 90 percent of all waste from operations. More than 40,000 tons of cores, or original components, are processed at Meritor remanufacturing facilities annually.

 

Considered by many to be “the ultimate form of recycling,” a remanufactured component is similar to a new replacement part. It is re-manufactured using a standardized industrialized process, which is in line with specific technical specifications and incorporates defined core management standards. A remanufactured part is generally covered by the same warranty as a new replacement part.

 

Realizing the increasing role remanufacturing plays in fleet maintenance, the Motor & Equipment Remanufacturers Association (MERA) is actively promoting the use of remanufactured components.

 

“At MERA, we are elevating the understanding and perception of remanufacturing,” said John Chalifoux, president, MERA. “Our members use standardized industrial processes to produce superior quality remanufactured parts that deliver valuable benefits for both customers and society.”

 

Truck owners are opting to use remanufactured components for repairs because of their high quality and ease of delivery. In fact, the rise in the sale of used trucks is being mirrored by the sale of remanufactured components.

 

“Trucking operations of all sizes are realizing the real value of remanufactured parts,” said Doug Wolma, general manager, Global Aftermarket Operations, Meritor. “Not just in terms of straight cost, which can be 30 percent less, but also in terms of the quality which remanufactured parts bring to their bottom line.”

 

Creating Jobs

Due to the expense of transporting the cores, it’s most cost-effective to remanufacture components locally. As more truck and fleet owners discover the benefits of remanufactured components, remanufacturing companies are adding employees to handle the demand.

 

“One of the most costly things about remanufacturing is that you have to bring the core back to the factory,” Wolma said. “Ultimately this means more remanufactured products are produced locally (in the United States) creating more jobs here in the plant and in the transportation sector.”

 

Meritor remains committed to sustainability. These efforts not only impact the community, but also improve motor carriers’ operational efficiencies, according to Dwight Treen, site manager, Meritor’s Plainfield facility.

 

More Wear on the Shoes

One component that Meritor remanufactures in Plainfield is brake shoes. Used shoes are cleaned, shot-blasted and processed through a five-stage wash and pre-treatment process before Meritor’s innovative PlatinumShield™ coating is applied. The coating was developed in 2009 by Meritor’s brake engineering team to resist micro-abrasion caused by the movement of the brake lining against the shoe table during normal use eliminating rust-jacking. Rust-jacking occurs when rust forms on bare shoe metal under the lining, causing it to lift and crack.

 

“The real benefit to customers is lower overall maintenance costs,” said Tim Bauer, product director, Meritor. “The elimination of premature brake jobs resulting from cracked linings will make fleets using these shoes more competitive.”

 

Meritor’s Wolma reiterated that remanufactured components offer higher quality and lower costs than rebuilt components, and fill a distinct market niche with older vehicles operated by the second or third owners seeking the lowest costs to remain competitive. According to Wolma, this demand for remanufactured product will grow in the future and include more sophisticated electronic components. The product portfolio will grow, change, shift and broaden to include electronics, actuators, controls, engine and brake and mechatronics.

 

More truck owners are opting for remanufactured components for reduced costs and nationwide warranty. Recently, the increased number of remanufactured components has matched the influx of used trucks in the marketplace.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
John Clark

(248) 435-1750

john.clark@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com
Press ReleaseCompanyGlobal 
Meritor® Adds Oil-Bath Wheel Seal to All-Makes Wheel-End Aftermarket Portfolio
  
Jul 09 2012

TROY, Mich. (July 9, 2012) – Meritor, Inc.’s (NYSE: MTOR) Aftermarket business recently added heavy-duty truck and trailer oil-bath wheel seals to its wheel-end parts offerings. The new additions continue the company’s “complete solutions” approach to expanding its aftermarket product portfolio.

 

The new product available in a standard and a premium version – will be distributed from Meritor’s North American distribution centers in Florence, Ky., and Brampton, Ontario, beginning in July.

 

“Adding the wheel seals will serve to strengthen our comprehensive all-makes, wheel-end offerings to fleets, dealers and distributors across North America,” said Tim Bauer, business unit director, Undercarriage Products, Meritor.

 

These wheel seals feature a wide-seal band, a multi-zone labyrinth design, unique low-friction bumpers, plus the industry’s thickest steel casing (0.07-inches) that helps prevent installation damage.

 

“Customers have the ability to install this product by hand or use a third party installation tool,” said Adam Kretz, product manager, Meritor.

 

The warranty for the seals will be one year or 150,000 miles for the standard model, and two years or 300,000 miles for the premium model.  Warranty extension is possible by utilizing the Meritor PlatinumShield™ coated brake shoes with MA friction materials.

 

The standard model is manufactured to exacting engineering standards set by Meritor from nitrile rubber, also known as NBR, while the premium model uses hydrogenated nitrile rubber or HNBR. The premium model is compatible with all lubricants, including synthetics.

 

Meritor is a leading supplier of hubs, drums, automatic slack adjusters, and new and remanufactured brake shoes and kits in North America.  

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
John Clark

(248) 435-1750

john.clark@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Defense Supports Lockheed Martin with ProTec™ Suspension for JLTV Development Contract
  
Aug 27 2012

TROY, Mich. (Aug. 27, 2012) – Meritor, Inc. (NYSE: MTOR) announces that its ProTec™ High Mobility Independent Suspension (HMIS) will be integrated into Lockheed Martin’s (NYSE: LMT) military vehicle that recently advanced to the next round of the Army and Marine Corps Joint Light Tactical Vehicle (JLTV) program.

 

Lockheed Martin is one of three companies recently awarded an Engineering and Manufacturing Development (EMD) contract for the JLTV. This vehicle is designed to provide the ultimate payload, performance and protection to support our warfighters.

 

Engineered for extreme environments, the ProTec Series 30 HMIS is an advanced technology solution that was developed for the JLTV program. It provides outstanding off-road maneuverability and premium ride quality.

 

“With more than 100,000 miles of testing, the performance of the ProTec HMIS has been proven during the Technology Development phase of the JLTV program,” said Dave Damian, director, Sales and Business Development, Meritor Defense. “Our team began developing the ProTec Series 30 for the JLTV in 2005 and has been dedicated to providing the best possible solution for our warfighters.”

 

Earlier this year, the JLTV program entered the EMD phase, where six industry teams submitted bids for as many as three contracts. A production contract is expected late in 2015 or in early 2016.

        

A ProTec vehicle testing video on an up-armored HMMWV platform is available at meritordefense.com.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
Krista Sohm

(248) 435-7115

krista.sohm@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Names Fullbright Manufacturing Engineer of the Year
  
Aug 28 2012

TROY, Mich. (Aug. 28, 2012) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently announced that Tim Fullbright has been named the company’s Manufacturing Engineer of the Year.

 

Fullbright earned the award for distinguished contributions to the continued improvement, flexibility, capability and safety of Asheville’s housing manufacturing process. He was recognized for his role in the design, development and installation of an induction heater for a large blanking press. The project resulted in significant capacity and productivity improvements, as well as cost savings.

 

The Engineer of the Year is selected by a committee composed of members from the company’s Manufacturing, Industrialization, Supply Chain, and Engineering groups. The award recognizes achievements during the company’s 2011 fiscal year. Nominations were submitted in early 2012.

 

Tim’s ability to effectively take action through the application of intuition and experience is impressive,” said Chris Snodgrass, vice president, Axles and Drivelines, North America.

 

He joined Meritor 2004 as a senior controls engineer after spending 18 years with American Enka/BASF in a variety engineering roles. Fullbright lives in Asheville, N.C., and has a bachelor’s degree in electrical engineering from North Carolina State University.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's web site at meritor.com.

 

CONTACT:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com
Press ReleaseCompanyGlobal 
Meritor Presents Galligher with Lifetime Achievement Award
  
Aug 28 2012

TROY, Mich. (Aug. 28, 2012) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently honored John Steven Galligher with its Lifetime Achievement Award for Manufacturing Engineering.

 

Galligher earned the award for distinguished contributions to the development and advancement of carrier components and gearing manufacturing processes.

 

During his career, he has directed the installation and launch of more than 30 manufacturing projects, developed quality systems for initial plant start-up, improved advanced quality control methods at two plants and provided mechanical design and implementation for seven robotic machine tending projects. He has also provided counsel to several facilities, including Sisamex, Meritor’s joint venture in Monterrey, Mexico.

 

Steve always thinks like a leader,” said Chris Snodgrass, vice president, Axles and Drivelines, North America. ”He delivers on commitments and serves as a role model for others. We are proud to honor his many accomplishments with this award.”

 

The recipient of the Lifetime Achievement Award for Manufacturing Engineering is selected by a committee composed of members from the company’s Manufacturing, Industrialization, Supply Chain, and Engineering groups. Nominations were submitted in early 2012 for the 2011 fiscal year.

 

Galligher has been with Meritor for 34 years. He joined the company in 1978 as a senior manufacturing specialist after an eight-year career at General Motors. He has held a variety of management positions since transferring to the company’s facility in Asheville, N.C. He lives in Travelers Rest, S.C. and holds a Bachelor of Science in mechanical engineering from General Motors Institute, now Kettering University, and a Master of Arts in industrial management from Central Michigan University.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's web site at meritor.com.

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com                       

Press ReleaseCompanyGlobal 
Meritor Names Patrascu Product Engineer of the Year
  
Aug 28 2012

TROY, Mich. (Aug. 28, 2012) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, has announced Florin Patrascu as the company’s Product Engineer of the Year.

 

Patrascu earned the award for his contributions to driveline engineering in the areas of customer applications, application analysis and product design. He was also recognized for his role as the principal application/project engineer responsible for establishing Meritor’s driveline business in Brazil. In addition, he applied his knowledge of drivelines to develop a state-of-the-art driveline angle analyzer used by the company’s North American Field Operations, fleets and dealerships.

 

Patrascu also designed drivelines for the Joint Light Tactical Vehicle Super Lite 16N and Super Truck products. He developed and worked extensively with the new 16MXL bushing sealing system and designed and developed the first swage driveline that allows for higher rotational speeds.

 

The Engineer of the Year is selected by a committee composed of members from the company’s Manufacturing, Industrialization, Supply Chain, and Engineering groups. The award recognizes achievements during the company’s 2011 fiscal year. Nominations were submitted in early 2012.

 

“His knowledge and creativity were instrumental to the success of a variety of applications,” said Joe ElBehairy, vice president, Engineering and Quality. “We are pleased to recognize his many accomplishments with this award.”

 

Patrascu joined Meritor in 2008 from American Axle & Manufacturing in Detroit where he was a senior project engineer. He has held a variety of engineering positions of increasing responsibility since 1995. Patrascu, who lives in West Bloomfield, Mich., holds bachelor’s and master’s degrees in mechanical engineering from University of Petrosani in Romania.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's web site at meritor.com.

 

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Presents McKenzie with Lifetime Achievement Award
  
Aug 28 2012

TROY, Mich. (Aug. 28, 2012) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently honored Jack McKenzie with its Lifetime Achievement Award for Product Engineering.

 

McKenzie earned the award for distinguished leadership in design and development of on-highway axles, including Meritor’s 14X axle product design and production release. McKenzie has been instrumental in developing new carrier designs for key defense programs, in addition to providing support for new off-highway carrier designs. He was also recognized for his problem-solving capabilities.

 

Jack’s creativity and ingenuity have been instrumental in the design and production of many key products,” said Joe ElBehairy, vice president, Engineering and Quality. “He’s played a critical role time and again in streamlining procedures, improving designs and raising product quality. He’s not only highly-regarded within Meritor, but also within the industry. He’s worthy of this honor.”

 

The recipient of the Lifetime Achievement Award for Product Engineering is selected by a committee composed of members from the company’s Manufacturing, Industrialization, Supply Chain, and Engineering groups. Nominations were submitted in early 2012 for the 2011 fiscal year.

 

McKenzie began his career at Meritor in 1977 as a co-op student. He took on roles of increasing responsibility within the axle product design and development group. Currently he is chief engineer leading the North America Carrier engineering group, which supports the truck, off-highway and defense business units. McKenzie lives in Clarkston, Mich., and holds a bachelor’s degree in engineering from Western Michigan University and a master’s degree in engineering from the University of Michigan – Dearborn.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's web site at meritor.com.

 

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com
Press ReleaseCompanyGlobal 
Meritor Expands Canadian Distribution Center: Improved Service Levels in Three Canadian Provinces
  
Oct 03 2012

TROY, Mich., (Oct. 3, 2012) Meritor, Inc. (NYSE:MTOR) recently completed an expansion of its aftermarket distribution center in Edmonton, Alberta, which will improve service and delivery time to its western Canada OE dealer and warehouse distributor customers. The 35,000 square-foot center now stocks a full line of Meritor and Euclid drivetrain and undercarriage products.

 

The expansion improves product availability which will reduce lead times as much as 70 percent, according to Doug Jamieson, site manager, Meritor.

 

“Our expanded center in Edmonton enables us to consolidate and expedite a customer’s order for Meritor and Euclid parts into one shipment for faster delivery,” Jamieson said.

 

Customers in British Columbia, Alberta and Saskatchewan were previously served through the company’s Brampton, Ontario, distribution center.

 

The expanded Edmonton facility complements Meritor Logistics, the company’s new third-party multiple logistic services. Meritor recently launched this aftermarket-based, third-party multiple logistics service to improve distribution activities, packaging capabilities and remanufacturing techniques within a given country or an entire continent.  

 

To support its global aftermarket operation – consisting of warehousing, inventory and distribution processes,  Meritor also operates distribution centers in the United States, Mexico, United Kingdom, Germany, Brazil, Australia, China, Singapore and India. The entire operation serves nearly 6,000 customers globally.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
Mike Pennington

(248) 670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Hosts Conference Call and Webcast to Present Fiscal Year 2012 Fourth-Quarter and Full-Year Earnings Results
  
Oct 09 2012

TROY, Mich. (Oct. 9, 2012) — Meritor, Inc. (NYSE: MTOR) will host a conference call and webcast to present the company’s fiscal year 2012 fourth-quarter and full-year financial results on Wednesday, Nov. 14, 2012, at  9 a.m. (ET). 

 

To participate, call (617) 213-4853, 10 minutes prior to the start of the call. Please reference passcode 16637709 when registering. Investors can also listen to the conference call in real time – or for seven days after the event – by visiting meritor.com.   

 

A replay of the call will be available starting at 11:00 a.m. on Nov. 14, until 11:59 p.m. Nov. 21, by calling (888) 286-8010 (within the United States) or (617) 801-6888 for international calls. Please refer to replay passcode 81628649.  To access the listen-only audio webcast, visit meritor.com and select the webcast link from the home page or the investor page.

 

The company’s fourth-quarter and full-year financial results for fiscal year 2012 will be released prior to the conference call and webcast on Nov. 14. The release will be distributed through PR Newswire, First Call and meritor.com

 

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of about 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS: 

Media Inquiries

Robert Herta

(248) 435-1185

robert.herta@meritor.com

                                   

Investor Inquiries

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Touts Growth Potential of Remanufacturing at MERA Conference
  
Oct 12 2012

TROY, Mich., (Oct. 11, 2012) Meritor Chairman, CEO and President Chip McClure told more than 150 industry executives that Meritor views remanufacturing as a critical component of the company’s sustainability program.

 

“At Meritor, we consider sustainability an economic, social and environmental requirement for commercial success,” McClure said.   

 

McClure delivered the keynote address at the Remanufacturing and the Sustainable Organization conference in Troy, Mich. on Oct. 2. The conference is produced by the Motor & Equipment Remanufacturers Association (MERA) and the Golisano Institute for Sustainability, which is part of the Rochester Institute of Technology, highlights the benefits of using remanufactured components.

 

Meritor recently invested $3.7 million in its Plainfield, Ind. facility and during the last five years has invested more than $8 million in its global remanufacturing operations around the world. The company has eight remanufacturing facilities in five countries.

 

“It’s not hard to see the increasing potential that remanufacturing holds for commercial vehicle suppliers,” he said. “This is a $15.2 billion industry in the heavy-duty market and it’s growing.”

 

McClure acknowledged that material recycling gets a lot of attention for its impact on the environment, but product re-use actually has a greater bearing both ecologically and economically.

 

“The benefits of extending the life of a part that might otherwise be scrapped are huge,” he said. “Remanufactured components produce a carbon footprint as much as 40 percent lower than original parts,” he said.

 

The company is expanding its reman offerings globally with brake calipers, air systems, compressors, and plans to add electronics and electronic controls and mechatronics. The company intends to double its sales of remanufactured products by 2020.

 

More than 24,000 tons of metal are recycled annually in Meritor’s remanufacturing operations worldwide, and the company recycles 90 percent of all waste from its operations. More than 40,000 tons of cores, or original components, are processed at Meritor remanufacturing facilities annually.

 

Meritor recently received the Global Remanufacturer of the Year Award from ReMaTec magazine, a United Kingdom-based publication about the remanufacturing industry. The honor is Meritor’s second remanufacturing-focused award. The company won the 2010 HDRG Heavy Duty Remanufacturer of the Year.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of nearly 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
Mike Pennington

(248) 670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Trailer Axles Named Standard Equipment on Wabash National Trailers
  
Oct 17 2012

Troy, Mich., (Oct. 17, 2012) – Meritor, Inc. announced today that Wabash National has selected Meritor trailer axles to be standard equipment on all its trailers.

 

“Meritor's long history of innovation in axle and brake technology assures our customers access to industry-leading solutions that can help reduce cost and improve performance,” said Brent Yeagy, vice president and general manager, commercial trailer products, Wabash National.

 

As part of the agreement, other Meritor components available on Wabash National models, include air suspensions, Meritor Tire Inflation System by PSI™, automatic slack adjusters and wheel-end components.

 

“Wabash National has a well-deserved quality reputation year after year for building long-lasting trailers,” said Craig Frohock, general manager, Global Trailer, Meritor. “Meritor’s proven product lineup will only enhance Wabash’s status as an industry leader.”

 

The proven leadership of Meritor in the design and manufacture of trailer components began back in 1948. Today, Meritor continues to set the pace for the industry with important new product innovations. In North America, the company has produced more than 9 million trailer axles and has more than 50 different axles for use in a broad range of trailer applications.

 

Meritor trailer systems and components are backed by Meritor’s industry-competitive warranty, global services and support from the nationwide DriveForce professionals.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of nearly 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Defense Showcasing ProTec™ Series 30 and iPad Sales Application at AUSA
  
Oct 18 2012

TROY, Mich., (Oct. 18, 2012)Meritor, Inc. (NYSE: MTOR) will display the ProTec Series 30 High Mobility Independent Suspension (HMIS), which is part of the Meritor High Mobility Multipurpose Wheeled Vehicle (HMMWV) Enhanced Mobility Upgrade System, at the Association of the United States Army’s (AUSA) Annual Meeting and Exposition in Washington, D.C., Oct. 22-24.

 

Integrated into the HMMWV platform, the ProTec Series 30 will be on display in the company’s booth, 7543. Approximately 400 ProTec Series 30 suspensions are currently in use on combat vehicles in Afghanistan and can be designed for a range of applications with gross axle weight ratings from 8,000 to 14,000 pounds.

 

“The ProTec Series 30 continues to prove its mission-readiness through rigorous vehicle testing in real-world combat terrain,” said Dave Damian, director, Sales and Business Development, Meritor Defense. “Our experts are putting the Meritor HMMWV Enhanced Mobility Upgrade System through a difficult testing program in remote areas that replicate those environments.”

 

The company’s Vehicle Dynamics Laboratory, which is a mobile, self-sufficient testing lab, is used for remote testing of the ProTec and various Defense products as well. The lab allows for precision system tuning based on the environment in which the products will be used.

           

Also featured at AUSA will be Meritor Defense’s iPad application, which will be demonstrated by members of the company’s sales team at the booth. The application makes it easy to access and share product information, brochures, images, videos and presentations. Attendees can have information emailed to them from the iPads.

 

To learn more about the ProTec Series 30 and Meritor Defense’s product portfolio, visit the Meritor Defense sales team at AUSA or meritordefense.com.

           

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of nearly 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s web site at meritor.com.

 

CONTACTS:


Media Inquiries
Robert Herta

248-435-1185

robert.herta@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Facility Celebrates 30 Years of Manufacturing
  
Oct 30 2012

FLETCHER, N.C., (Oct. 30, 2012) — Employees at Meritor’s Fletcher, N.C. manufacturing facility celebrated the site’s 30th year in Henderson County near Asheville on October 27. The nearly 800 employees manufacture gearing, input shafts and axle housings for commercial trucks, and assemble carriers for truck, specialty vehicle and tactical-wheeled programs.

 

The milestone is one of many the plant, which originally operated under the Rockwell International banner, has experienced in its three decades of operation. After producing its first axle in 1983, the facility soon became a two-shift operation. A 105,000-square-foot expansion in 1985 was added to the site to accommodate growing demand. The 1 millionth axle rolled off the line in 1992, and the site produced its 2 millionth axle in 1997.

 

“Meritor employees have demonstrated the enthusiasm and commitment that has helped us reach these milestones,” said Brian Cavagnini, site manager.

 

The company has invested $29 million during the past three years in the facility, including $6 million in 2012 for a new carburizing furnace, input shaft cell and pinion hard turn installation.

 

The site earned PACCAR’s 50 PPM Award for quality in 2009, 2010 and 2011. In addition, the United Way awarded Meritor employees the 2012 “Spirit of North Carolina” award for their community service. Employees raised nearly $200,000 for United Way in 2011-12 through contributions, corporate matching gifts and various fundraising activities. Meritor also supports various local health and human services organizations through employee volunteerism.

 

The Fletcher facility serves customers throughout North America, as well as Brazil, France, Italy, Australia, China and Japan.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of about 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS: 

Media Inquiries

Nancy Sarpolis

(248) 435-1054

nancy.sarpolis@meritor.com

 

Investor Inquiries

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Expands Its Support of Veterans through Thanksgiving Gala Event
  
Nov 02 2012

Troy, Mich., (Nov. 2, 2012) — Meritor, Inc., a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, will support several local veterans organizations through its $5,000 contribution to the Association of the United States Army (AUSA) Arsenal of Democracy Chapter’s Thanksgiving Gala on Saturday, Nov. 3, in Sterling Heights, Mich. The Gala raises funds for organizations such as the Fallen & Wounded Soldiers Fund and the John Dingell VA Hospital.

 

“This event, like so many others, is a great example of Meritor’s commitment to the community and we are glad to support the AUSA in its salute to our military heroes,” said Tim Burns, vice president and general manager, Defense and Specialty, Industrial. “Meritor takes great pride in having the opportunity to deliver advanced technology solutions for military and government applications.”

 

More than a half century ago, Meritor began supplying drivetrain components to military fleets. Today, it is one of the world’s largest independent drivetrain producers for tactical-wheeled vehicles. Meritor provides systems for a complete range of lightweight and heavyweight vehicles, armored personnel and advanced-wheeled combat vehicles for all types of terrains.

 

Meritor supports our nation’s military personnel through a variety of efforts:

 

·         Tim Burns, Meritor’s vice president and general manager, Defense and Specialty, Industrial, is on the board of directors of the Michigan Armed Forces Hospitality Center.

·         Meritor contributed $25,000 in 2011 to the Michigan Armed Forces Hospitality Center to support its Freedom Center. The Freedom Center is located at Gate A43 in the center of the Detroit Metropolitan Airport’s McNamara Terminal and helps service men and women and their families. It offers a relaxing atmosphere, including travel assistance, refreshments and travel amenities.

·         Recent grassroots employee efforts raised $12,888 for organizations supporting veterans through “jeans day” donations: $7,616 for the Freedom Center and $5,272 for USA Cares, which provides military families with financial and advocacy support.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of about 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS: 

 

Media Inquiries

Nancy Sarpolis

(248) 435-1054

nancy.sarpolis@meritor.com

 

Investor Inquiries

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Contribution Supports Diversity and Inclusion Efforts
  
Nov 06 2012

Troy, Mich., (Nov. 6, 2012) — Meritor, Inc., a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, is supporting the Michigan Roundtable for Diversity and Inclusion through a donation and its participation in the 65th Annual Humanitarian Tribute Luncheon on Wednesday, Nov. 7. The Meritor Trust Fund recently contributed $5,000 to support Michigan Roundtable’s mission and programs that advance diversity and build more inclusive communities.

 

“We believe strongly in our own mission to create a culture that embraces diversity and builds inclusive workplace environments and communities,” said Larry Ott, senior vice president, Global Human Resources. “We all benefit from the broader understanding and new perspectives diversity brings, which leads to greater creativity and improved productivity.”

 

Meritor focuses its diversity initiatives on the following three components:

 

Workforce: Meritor employs approximately 10,000 people in 19 countries representing many cultures.

 

Workplace: Meritor’s business resource groups are one example of how the company fosters an inclusive culture of mutual respect. These groups support employee training, workplace policy initiatives, community service programs and partnerships, supplier events, employee networking, coaching and speaking events, to promote and achieve Meritor’s diversity goals.

 

Marketplace: Meritor is committed to building relationships with diverse organizations and utilizing diverse suppliers to position our company to better meet the needs of our customers globally. University relations, charitable contributions, supplier diversity programs and partnerships with diverse community and professional organizations play a crucial role in this effort.

 

Members of Meritor’s Business Resource Groups will attend the Michigan Roundtable luncheon. The event celebrates three leaders from various sectors of society who have made a significant difference in the quality of life in the community. This year’s honorees include: Joyce Hayes Giles, DTE Energy; Matt Cullen, Rock Ventures LLC; and the Sphinx Organization founded by Aaron Dworkin.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of about 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS: 

 

Media Inquiries

 Nancy Sarpolis

(248) 435-1054

nancy.sarpolis@meritor.com

 

Investor Inquiries

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

 

Press ReleaseCompanyGlobal 
Media Advisory:  Meritor Honors Military through Continued Support of Freedom Center at Detroit Metropolitan Airport
  
Nov 07 2012

The Freedom Center military lounge at Detroit Metropolitan Airport’s McNamara Terminal is celebrating its first year of operations. During a recognition event, Meritor will  announce its continued support of this world-class airport reception and hospitality area designed to welcome off- and active duty military service members, veterans and their families to Detroit.

 

When:              8:30 a.m., Friday, Nov. 9, 2012

 

Where:             Detroit Metropolitan Airport, McNamara Terminal, Gate A43

                       

Please RSVP to Sue Trussell (suemaryt@hotmail.com) with your name as it appears on your driver’s license, and your date of birth.

 

We recommend that you park in short-term parking across from the McNamara Terminal no later than 8 a.m. and proceed to the Delta Airlines First Class Check-in on the Ticketing Level to pick up your gate pass.

 

Please bring photo identification. Credentialed media will need to show their Media ID.

 

Who:                Chip McClure, chairman, CEO and president, Meritor

Tim Burns, vice president and general manager,

Defense and Specialty, Industrial, Meritor

 

Why:                Meritor has a long history of supporting the armed services, its members and their families. Meritor has produced drivetrain components for U.S. military fleets around the world for more than 100 years.

 

Contact:           Jerry Rush

                        Senior Director, Government and Community Relations

248-435-7907

jerry.rush@meritor.com

 

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of about 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

Press ReleaseCompanyGlobal 
Meritor Increases Pledge to $55,000 in Support of Freedom Center at Detroit Metropolitan Airport
  
Nov 09 2012

TROY, Mich., (Nov. 9, 2012) — In recognition of Veteran’s Day, Meritor, Inc. (NYSE: MTOR) today announced a three-year pledge totaling $30,000 from the Meritor Trust Fund to support the Freedom Center located in the McNamara Terminal at Detroit Metropolitan Airport.

 

This support is in addition to the two-year pledge totaling $20,000, committed this time last year at the official opening dedication of the Freedom Center, and a $5,000 donation to support the Freedom Center Gala event. The Freedom Center is a world-class reception and hospitality area designed to welcome military service members and their families to Detroit, whether passing through or in Detroit for an extended period. All retired and active duty members of the armed services, family members and veterans, are invited to enjoy this new airport amenity.

 

“We are honored to provide support to our nation’s warfighters and their families as they travel through Detroit,” said Tim Burns, vice president and general manager, Defense and Specialty, Industrial, Meritor. “During our first 12 months of operation, Freedom Center volunteers have hosted more than 30,000 members of our military, their dependents and veterans. By providing a world-class lounge, we have been able to say ‘Thank you for your service’ to our troops. They are heroes to all of us and Meritor is committed to them and their families.”

 

Meritor has a long history of supporting armed services members and their families. In 2009, Meritor was recognized with the Pro Patria Award, presented by the Michigan National Guard and Reserve for the company’s employee military leave program. Meritor also supports our nation’s military personnel through the following efforts:

 

·         Tim Burns is on the board of directors of the Michigan Armed Forces Hospitality Center.

·         Recent grassroots employee efforts raised $12,888 for organizations supporting veterans through “jeans day” donations: $7,616 for the Freedom Center and $5,272 for USA Cares, which provides military families with financial and advocacy support.

·         Meritor Defense is one of the lead $5,000 “Distinguished Service Cross” sponsors of the Association of the United States Army’s (AUSA) Thanksgiving Gala event in November 2012. The event supports worthwhile organizations such as the Fallen & Wounded Soldiers Fund and the John Dingell VA Hospital.

 

Meritor has produced drivetrain components for U.S. military fleets around the world for more than 100 years. The company has more than 500 employees in the United States dedicated to designing, testing and manufacturing drivetrain components for the U.S. Army's Family of Medium Tactical Vehicles (FMTV) and Mine Resistant Ambush Protected Vehicles (MRAP). Meritor also is designing and developing drivetrain technology for future military programs, including the Joint Light Tactical Vehicle (JLTV), High Mobility Multipurpose Wheeled Vehicle (HMMWV) Recapitalization and the Marine Personnel Carrier (MPC).

 

The Freedom Center is staffed by volunteers seven days a week, 365 days a year. Operating hours are from 6 a.m. to 11:30 p.m. However, many nights Freedom Center has operated around the clock when travelling soldiers, sailors and Marines are stranded due to flight delays or weather issues.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of about 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:

 

Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Jerry Rush

(248) 435-7907

jerry.rush@meritor.com

Press ReleaseCompanyGlobal 
Meritor Announces Proposed Offering of Convertible Senior Unsecured Notes
  
Nov 28 2012

TROY, Mich., (Nov. 28, 2012) Meritor, Inc. (NYSE: MTOR) today announced it intends, subject to market and other conditions, to offer $150 million aggregate principal amount at maturity of convertible senior unsecured notes due 2026 (the “notes”) to qualified institutional buyers in a private placement. The notes will be issued at a discounted initial principal amount per note and will accrete to $1,000 per note at December 1, 2020.

 

Meritor expects to grant the initial purchasers of the notes an option to purchase up to an additional $22.5 million aggregate principal amount at maturity of the notes.  In certain circumstances, the notes may be convertible into cash up to the principal amount at maturity of the note surrendered for conversion. For the remainder of Meritor’s conversion obligation, if any, in excess of the principal amount at maturity, the notes may be convertible into cash, shares of Meritor common stock or a combination of cash and common stock, at Meritor’s election, subject to certain limitations.

 

The company currently expects to use the net proceeds from the offering of the notes, after deducting estimated underwriting discounts and the companys expenses related to the offering, primarily to purchase, redeem or repay a portion of its outstanding debt, as well as for general corporate purposes.

 

The securities to be offered have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state in which such offer, solicitation or sale would be unlawful.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

 

Forward-Looking Statements

This press release contains statements relating to our future results (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “estimate,” “should,” “are likely to be,” “will” and similar expressions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to reduced production for certain military programs and our ability to secure new military programs as our primary military programs wind down by design in future years; reliance on major original equipment manufacturer (“OEM”) customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations; our ability to successfully manage rapidly changing volumes in the commercial truck markets and work with our customers to adjust their demands in view of rapid changes in production levels; global economic and market cycles and conditions, including a slower than anticipated recovery from the recent global economic crisis; availability and sharply rising costs of raw materials, including steel, and our ability to manage or recover such costs; our ability to manage possible adverse effects on our European operations, or financing arrangements related thereto, in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); rising costs of pension and other postretirement benefits; the ability to achieve the expected benefits of restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle productions in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; the outcome of actual and potential product liability, warranty and recall claims; and possible changes in accounting rules; as well as other substantial costs, risks and uncertainties, including but not limited to those detailed herein and in our filings with the SEC. These forward-looking statements are made only as of the respective dates on which they were made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

 

CONTACTS: 

Media Inquiries

Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Announces Pricing of Convertible Senior Unsecured Notes
  
Nov 29 2012

TROY, Mich., (Nov. 29, 2012) Meritor, Inc. (NYSE: MTOR) today announced the pricing on November 28, 2012 of its offering of $225 million aggregate principal amount at maturity of convertible senior unsecured notes due 2026 (the “notes”). The offering is being made to qualified institutional buyers in a private placement. The notes will rank equally in right of payment to all of Meritor’s existing and future senior unsecured indebtedness.

 

Meritor has granted to the initial purchasers of the notes a 30-day option to purchase up to an additional $25 million aggregate principal amount at maturity of the notes. The initial purchasers today exercised their option to purchase additional notes in full, bringing the total size of the offering to $250 million aggregate principal amount at maturity.  

 

The sale of the notes is expected to close on December 4, 2012, subject to customary closing conditions. 

 

The company will pay 7.875% cash interest on the principal amount at maturity of the notes semiannually on June 1 and December 1 each year, to holders of record at the close of business on the preceding May 15 and November 15, respectively, and at maturity to holders that present the notes for payment. Interest will accrue on the principal amount at maturity thereof from, and including, the date the notes are issued or from, and including, the last date in respect of which interest has been paid or provided for, as the case may be, to, but excluding, the next interest payment date. The notes have an initial principal amount of $900 per note and will accrete to $1,000 at December 1, 2020. The notes will mature on March 1, 2026.

 

The notes will be convertible in certain circumstances into cash up to the principal amount at maturity of the note surrendered for conversion.  For the remainder of Meritor’s conversion obligation, if any, in excess of the principal amount at maturity, the notes will be convertible into cash, shares of Meritor common stock or a combination of cash and common stock, at Meritor’s election, subject to certain limitations. The initial conversion rate, subject to adjustment, is equivalent to 83.3333 shares of common stock per $1,000 principal amount at maturity of notes. This represents an initial conversion price of approximately $12.00 per share. 

 

The company currently expects to use the net proceeds from the offering of the notes (estimated to be approximately $218 million, after giving effect to the exercise in full of the initial purchasers’ option to purchase additional notes), after deducting estimated underwriting discounts and the companys expenses related to the offering, primarily to purchase, redeem or repay a portion of its outstanding debt, as well as for general corporate purposes.

 

The securities priced today have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state in which such offer, solicitation or sale would be unlawful.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

 

Forward-Looking Statements

This press release contains statements relating to our future results (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “estimate,” “should,” “are likely to be,” “will” and similar expressions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to reduced production for certain military programs and our ability to secure new military programs as our primary military programs wind down by design in future years; reliance on major original equipment manufacturer (“OEM”) customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations; our ability to successfully manage rapidly changing volumes in the commercial truck markets and work with our customers to adjust their demands in view of rapid changes in production levels; global economic and market cycles and conditions, including a slower than anticipated recovery from the recent global economic crisis; availability and sharply rising costs of raw materials, including steel, and our ability to manage or recover such costs; our ability to manage possible adverse effects on our European operations, or financing arrangements related thereto, in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); rising costs of pension and other postretirement benefits; the ability to achieve the expected benefits of restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle productions in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; the outcome of actual and potential product liability, warranty and recall claims; and possible changes in accounting rules; as well as other substantial costs, risks and uncertainties, including but not limited to those detailed herein and in our filings with the SEC. These forward-looking statements are made only as of the respective dates on which they were made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

 

CONTACT:

 

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Hosts Conference Call and Webcast to Present Fiscal Year 2013 First-Quarter Earnings
  
Jan 03 2013

TROY, Mich. (Jan. 3, 2013) — Meritor, Inc. (NYSE: MTOR) will host a telephone conference call and webcast to discuss the company’s first-quarter results for fiscal year 2013 on Wednesday, Jan. 30, 2013, at 9 a.m. (ET).

 

To participate, call (617) 213-4847 at least 10 minutes prior to the start of the call. Please reference participant pass code 94256449 when dialing in. Investors can also listen to the conference call in real time or access a recording of the call for seven days after by visiting www.meritor.com.

 

To access the listen-only audio webcast, visit the Meritor website at meritor.com and select the webcast link from the home page or the investor page.

 

The company’s first-quarter financial results will be released prior to the conference call and webcast on Jan. 30. The release will be distributed through PR Newswire, First Call and the company’s website.

 

A replay of the call will be available from 11 a.m. on Jan. 30, to 11:59 p.m. on Feb. 6, by calling (888) 286-8010 (within the United States) or (617) 801-6888 for international calls. Please refer to replay pass code number 30070335.

 

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS: 

 

Media Inquiries

Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor WABCO Named Exclusive Service Brake Chamber Supplier for Daimler Trucks North America
  
Jan 14 2013

TROY, Mich., (Jan 14, 2012) Meritor WABCO, a leader in providing efficient air system solutions for the commercial vehicle industry, announced that it has been named the standard position steer axle service brake chamber supplier for all Daimler Trucks North America air brake vehicles.

 

“Our strength is in engineering parts for optimized performance,” said Jon Morrison, president and general manager, Meritor WABCO. “This allows truck manufacturers to reduce the cost of ownership and increase payload capability.”

 

Meritor WABCO service brake chambers allow for increased efficiency through smaller packaging, lighter weight and increased durability. The benefits include:

  • Proven, reliable design featuring full crimped/sealed chambers
  • Very compact
  • Improved corrosion protection

Production began in October for use on front axle truck applications.

 

About Meritor WABCO

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency-smart components. These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading global suppliers back Meritor WABCO, each with more than 100-year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides the JV the industry’s most extensive service and support network; while WABCO Automotive Control Systems, Inc., a wholly-owned subsidiary of WABCO Holdings, Inc. (NYSE:WBC) provides breakthrough technologies and control systems for the safety and efficiency of commercial vehicles.  For more information, visit meritorwabco.com.

 

 

Media Inquiries:

 

Kathy Rakowiecki

248-435-1472

Kathy.Rakowiecki@Meritor.com

Press ReleaseCompanyGlobal 
Meritor Announces Executive Appointments Associated with Restructuring Action
  
Jan 17 2013

TROY, Mich., (Jan. 17, 2013) – Meritor, Inc. (NYSE: MTOR) has announced a series of organizational changes designed to more closely align its overall structure with its recent business segment consolidation.

 

The company expects to report results under two segments:

 

·         Commercial Truck & Industrial

·         Aftermarket & Trailer

 

“These appointments will drive efficiencies across the organization while keeping us very focused on our customers and products around the world,” said Chip McClure, chairman, CEO and president, Meritor. “In addition, these changes will streamline decision-making and ultimately support our ongoing efforts to reduce costs.”

 

Commercial Truck & Industrial

Leading the Commercial Truck & Industrial segment in new and expanded roles under the direction of Tim Bowes, president, are the following:

 

·         Joe Plomin is appointed vice president, Europe and Australia. In this role, Plomin is responsible for Meritor’s brake and axle business in these regions. Previously, he was vice president, Global Brakes, Commercial Truck. Plomin is based in Europe.

·         Chris Snodgrass, vice president, North America, is responsible for the company’s brake, axle and specialty business in the region.

·         Geoff Dong is appointed managing director, China, ASEAN and Japan. In this role, Dong is responsible for the planning and execution of all OE and aftermarket business activities in these regions.

·         Thimmaiah NP continues in his role as managing director of India. In this role, he leads all of Meritor’s OE and aftermarket activities in India.

·         Silvio Barros, managing director, South America, will assume an expanded role to include responsibility for the Aftermarket business in the region.

·         Tim Burns, vice president, Global Defense and Off-Highway, will continue in his current role.

 

Additional appointments in the Commercial Truck & Industrial segment are:

 

·         Brett Penzkofer is appointed general manager, Global Product Strategy. In this new role, Penzkofer will be responsible for creating, implementing and leading global product strategy and coordinating all product development activities. Previously, he served as senior director of Finance for the company’s Commercial Truck business.

·         Steve Gudgel will repatriate to the United States to become general manager, Global Business Initiatives. Gudgel will support a variety of programs designed to improve the overall efficiency of the business globally. Gudgel was previously the managing director of the company’s axle and driveline business in Europe.

 

Aftermarket & Trailer

Under the direction of Pedro Ferro, president, Aftermarket & Trailer, the company announced the following appointments:

 

·         Craig Frohock is appointed general manager, North America. Frohock will be responsible for the planning, organization and implementation of all sales, business strategies and policies in North America for the Aftermarket and Trailer business.

·         Terry Livingston is appointed general manager, Global Product Management and Shared Services. Livingston will be responsible for developing and implementing business growth strategies for the global Aftermarket & Trailer business segment. Previously, Livingston was general manager, Aftermarket, United States and Canada.

·         Michael Boe, managing director, Aftermarket, Europe, will continue in his current role.

 

More details of the restructuring program and its associated financial impact will be highlighted during the company’s Analyst Day to be held in New York City on Feb. 5.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACT:

 

Media Inquiries

Robert Herta

248-435-1185

robert.herta@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Launches AllFit Shock Absorbers
  
Jan 22 2013

LAS VEGAS – (Jan. 22, 2013) – Meritor North American Aftermarket business, based in Florence, Ky., has announced the immediate availability of a Meritor-brand shock absorber product line. This new line replaces the Gabriel shocks previously sold by the company and is available immediately to all North American warehouse distributors and OEM dealers. 

 

Announced here during Heavy Duty Aftermarket Week, the new Meritor shock absorbers American-made in an ISO-certified facility -- are available in three models: cab shocks, standard duty shocks and premium adjustable shocks.

 

These are the first members of Meritor’s new AllFit series, that address the all-makes market segment demanded by fleets, owner-operators and installers for quality, all-makes shock absorbers.

 

These shocks reconcile perfectly with the diverse application and performance demands of the heavy duty aftermarket,” said Tim Bauer, director, Undercarriage Products. “We understand our customers want choices, so we’ve made this first move to offer this broad grouping of all-makes parts under a Meritor brand. Truck operators can enjoy the benefits of a complete shock absorber from a trusted supplier while our customers can streamline inventory and enhance the operator’s loyalty regardless of a fleet’s brand composition. The all-makes difference is in the bottom line.”

 

The new shocks ideal for Class 6-8 linehaul trucks, trailers and key vocational segments like fire and rescue, delivery vehicles, school buses, and municipal vehicles – provide an advanced sealing system, premium hydraulic  fluid, and a robust design to reduce excessive misting and extend product life.

 

The three product classes are:

 

·         Cab shock: designed to isolate the cab from the vehicle’s frame maximizing ride comfort.

·         Standard-Duty: manufactured with premium components to help ensure longevity on the road.

·         Premium Adjustable: can be converted to three settings...regular, firm or extra firm to support a variety of ride preferences.

 

“These shocks will provide superior ride comfort, all for greater operational control of the vehicle and minimize road vibration,” said Bauer. “Shock absorbers play an important role in this equation by supporting greater control and maximizing protection for the driver and cargo.”

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
Mike Pennington

248-670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Aftermarket Launches Two New Product Series:  Meritor AllFit and Meritor Green
  
Jan 22 2013

LAS VEGAS – (Jan. 22, 2013) To meet growing demand in new product areas, Meritor launched two new product series: Meritor AllFit and Meritor Green.

 

“We spend considerable time meeting with and listening to what our customers want from us to streamline the process of addressing end-users parts needs,” said Terry Livingston, general manager, Global Product Management and Shared Services, Aftermarket & Trailer, Meritor. “As one of the leading aftermarket suppliers, we are driven to meet our customers’ product category requirements, and can do so now that we offer new, all-makes, and remanufactured product lines.

 

“Meritor AllFit will serve as our Meritor all-makes family, and Meritor Green will become our Meritor remanufactured offering,” he added.

 

Concurrently, Meritor has introduced the following product expansions that will be marketed under the new Meritor AllFit series:

 

·         Meritor shock absorbers

·         Meritor suspension controls

·         Meritor all-makes drivetrain

 

“By clearly identifying and segmenting products in the marketplace and aligning with multiple owner life-cycles for specific vehicles, it’ll be easier for end-users to match their needs with our broad product offering,” Livingston said, adding that new, more cohesive packaging designs have been developed in line with a globally-driven aftermarket approach.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
Mike Pennington

248-670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor’s Drivetrain Direct Expedites Parts to Component Rebuilders
  
Jan 22 2013

LAS VEGAS – (Jan. 22, 2013) – Meritor introduced a comprehensive aftermarket drivetrain program, called Drivetrain Direct, designed to meet the parts needs of component rebuilders across the U.S. and Canada.

 

The program, and necessary support processes, will be available mid-February and provide customers with a host of resources, including drivetrain component experts through the Customer Care Center and all-makes drive axle and transmission component catalogs. 

 

“Our in-depth knowledge of the marketplace – from new parts, to all-makes, to reman components and respective distribution channels – empowers our company to expand its support and service to key rebuilders who insist and demand parts and assistance now, not tomorrow,” said Brad Begley, senior manager, Drivetrain, Meritor Aftermarket.

 

“Only from our business’s depth, breadth and experience are we able to step up and ‘go the extra mile’ for the sake of the North American rebuilder customers. To deliver rebuilt components to the rebuilders’ end-user customers, they demand superior quality, durability and dependability with complete online support, warranty support and order-tracking. A truck operator waiting on a key drivetrain components replacement simply cannot wait one more hour for parts to be shipped to the rebuilder – it’s a ‘today’ business where every minute counts.”

 

The program – which encompasses clutches, drivelines, starters, alternators, transmissions (manual and automatic) and drive axles – supplies all parts brands, components, and new or remanufactured units.  Those brands-and-families include, but are not exclusive to Meritor, Euclid, Mascot, and the newest additions to the new product series: Meritor AllFit and Meritor Green.

 

With its North American headquarters in Florence, Ky., and distribution centers in Brampton, Ontario; Monterrey, Mexico; and four additional global centers, the company offers enviable parts reach and speedy support.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

 

CONTACTS:


Media Inquiries
Mike Pennington

248-670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Unveils MeritorpartsOnline.com: Next generation e-commerce system for aftermarket customers
  
Jan 22 2013

Las Vegas (Jan. 22, 2013)Meritor, Inc. (NYSE: MTOR) unveiled MeritorpartsOnline.com: the company’s most advanced, user-friendly electronic catalog and parts ordering system during the Heavy Duty Aftermarket Week.

 

Designed to assist fleet parts managers, OEM dealers, warehouse distributors and truck operators, the new system is available immediately, free-of-charge, in the United States, Canada and South America, with other regions of the world to be added in the coming months.

 

MeritorpartsOnline.com replaces the company’s previous e-commerce system, XpresswayPlus.com, which was introduced in 1998. Current XpresswayPlus users may continue using their existing log-in credentials and any established reporting will transition with the user’s account.

 

“Our OEM dealers and distributor customers move fast to serve truck operators of all sizes, and they need a leading supplier like Meritor to provide a responsive, accurate, all-inclusive e-commerce system,” said Martin Hetherington, manager, Marketing and Brand, Aftermarket, Meritor.

 

Based on extensive customer feedback and research, the new system features:

 

·         Improved and intuitive navigation and easy-to-read pages that provide a simple transition from parts searches to order entry

·         New product information, promotions, improved parts comparisons, batch cross-reference upload, and 3D 360 degree rotating and zoom product photography

·         Upload template for both stock and emergency orders, quick order feature

·         Re-order purchase orders from historical data

 

In the fall of 2013, a second phase of the system will be introduced with additional features, including recommended up-selling and cross-selling, and an ad-maker kit for dealers and distributors.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

 

CONTACTS:


Media Inquiries
Mike Pennington

248-670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Distributes New Lined Brake Shoes with PlatinumShield™II Coating
  
Jan 22 2013

LAS VEGAS – (Jan. 22, 2013) – Effective immediately, Meritor Inc. is making PlatinumShieldII coating available for its new lined aftermarket brakes. The special coating will be available on all new, lined brake shoes, except those with EG and EG2 friction materials.

 

“Our customers in the aftermarket kept insisting that we make this innovative breakthrough product available on new shoes, not just remanufactured shoes,” said Tim Bauer, director, Undercarriage Products, Meritor Aftermarket. Meritor will not provide unlined brakes shoes to the market with PlatinumShield™II. Unlined brake shoes will continue to be available with black e-coat paint only.

 

Previously, the company made this unique coating, which is designed to fight rustjacking corrosion caused by harsh winter road salt and solvents, available only on remanufactured brake shoes for the aftermarket and Original Equipment (OE) truck and trailer brake shoes.

 

PlatinumShield coating was developed by Meritor to resist micro-abrasion caused by the movement of the brake lining against the shoe table during normal use. Rustjacking occurs when rust forms on bare shoe metal under the lining, causing the lining to lift and crack.

 

The warranty against rustjacking will be identical that of the remanufactured shoes: three years/300,000 miles (parts only). The company will replace any new lined brake shoe with PlatinumShield™II coating, purchased from Meritor Aftermarket, that exhibits signs of rustjacking. Aftermarket part numbers for Meritor new lined brakes shoes and shoe box kits have not changed. Brake shoe and shoe box kit labels will contain the PlatinumShield™II logo.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

 

CONTACTS:


Media Inquiries
Mike Pennington

248-670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Remanufactured Brake Shoes Recognized by Frost & Sullivan for Product Quality Leadership
  
Jan 22 2013

TROY, Mich., (Jan. 22, 2013) – Meritor’s Aftermarket business has been awarded the prestigious 2012 North American Industry Product Quality Leadership Award by Frost & Sullivan for the company’s remanufactured brake shoes.

 

“We recognize that the production of high quality remanufactured brakes is a constant challenge for the heavy-duty trucking industry,” said Janardan Damani, research analyst, Frost & Sullivan. “The North American remanufactured brakes aftermarket and its participants currently face several hurdles because brakes not only require immediate replacement but can also cause irreversible, extensive damage to trucks and increase the risk of accidents.

 

A major concern for the participants of remanufactured brakes has been imports from low-cost countries. However, due to the high cost of testing and product development on the manufacturer side, low-cost countries typically feature compromises in design and product life. Second, price is the most important competitive factor in this market, and it complicates suppliers’ efforts to improve their products and develop unique advantages.”

 

The award was announced at the industry’s largest event, Heavy Duty Aftermarket Week in Las Vegas.

 

“We are extremely proud of this recognition for our breakthrough product, but more than that, we’re so grateful that we could respond to our customers with a product that works and addresses a long-standing problem in brake shoes – rustjacking,” said Terry Livingston, general manager, Global Product Management and Shared Services, Aftermarket & Trailer, Meritor.

 

According to Frost & Sullivan, “Meritor stands out from the crowd for its leading position in providing innovative braking solutions for original equipment manufacturers of trucks. Leveraging its global production base and supply chain, Meritor has established itself as a leader in brake (shoe) (re)manufacturing.”

 

More than 15 million Meritor remanufactured brake shoes have been sold to North American truck operators since it introduced them in the spring of 2009. 

 

“This Product Quality Award represents the company’s capability and excellence in the remanufactured brake segment,” Damani said.

 

Meritor is a leading supplier of remanufactured components – including brake shoes, transmissions, steering gears, drivelines and axle differentials – to North American and global truck and trailer manufacturers and truck operators. 

 

Frost & Sullivan’s Product Quality Leadership Award recognizes companies in a variety of markets for demonstrating outstanding achievement and superior performance. The award is based on five criteria:

 

·         Product performance – Frost & Sullivan’s independent analysis reveals that as a premier provider of remanufactured brakes for the heavy-duty market, Meritor has been especially successful due to its emphasis on continuously improving product quality. “For example, the PlatinumShield technology in Meritor’s brake products extends the brake shoe life by arresting rust-jacking.”

·         Product reliability – The company has an extensive brake product line that meets customer durability expectations with proven reliability for trucks, coupled with its vast industry expertise, “thus giving the company a major competitive edge.” The company also offers the same warranty it offers for new products, one year and unlimited miles, and for brake shoes specifically, the warranty against rustjacking is three years/300,000 miles.

·         Product design – Meritor has demonstrated its ability to understand its customers' requirements and offer the best solutions,“ offering a product design that allows end users to ensure safety for their trucks. Meritor is driven by safety.”

·         Product usability – The key in the remanufacturing of brakes lies in effectively managing cores. “Meritor has successfully demonstrated that it has a quality core management practice, which helps it to procure and integrate cores in the remanufactured aftermarket brake systems.” These remanufactured brakes are then rigorously evaluated using the same criteria as for new brakes, employing state-of-the-art testing equipment in its in-house laboratory.

·         Perceived value – Meritor's products have a reputation for best-in-class reliability and performance. Frost & Sullivan research reveals this has further cemented customers' perceptions of the “true value the company places on product quality...Meritor's quality performance is achieved by enhancing the value proposition for its customers.”

 

Meritor’s global remanufacturing operations include eight sites in five countries producing a substantial portfolio of drivetrain and wheel-end components. More than 30,000 tons of metal are recycled annually in Meritor’s remanufacturing operations worldwide, and the company recycles 90 percent of all waste from its operations. More than 40,000 tons of cores, or original components, are processed at Meritor remanufacturing facilities annually.

 

The Product Quality Leadership Award is a prestigious recognition of Meritor’s accomplishments in the Remanufactured Brakes Aftermarket. An unbiased, third-party recognition provides a significant impact in enhancing the brand value and accelerating Meritor’s growth. According to Frost & Sullivan, it desires to inspire, influence and impact three constituencies: investors, customers and employees.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

 

CONTACTS:


Media Inquiries
Mike Pennington

248-670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Launches Suspension Controls Product Portfolio
  
Jan 22 2013

Las Vegas – (Jan. 22, 2013) Meritor’s North American Aftermarket business, based in Florence, Ky., announced the immediate availability of truck and trailer suspension controls, including ride height controls, load scale, lift axle controls, dump valve units and single axle dump systems. 

 

Announced here at the Heavy Duty Aftermarket Week, the controls are available immediately from the company’s Florence, Ky., and Brampton, Ontario, distribution centers, to all North American warehouse distributors and OEM dealers. They are made by a North American supplier with exacting function, durability and quality standards. 

 

“These new Meritor-brand suspension controls offer customers a quick and easy quality alternative to sourcing these important but often overlooked products from their primary aftermarket parts supplier: Meritor,” said Tim Bauer, director, Undercarriage Products. 

 

These products are members of Meritor’s new AllFit product series that addresses the all-makes market segment demanded by fleets, owner-operators and installers for quality all-makes suspension controls.

 

The company’s research indicates that truck operators of all sizes – fleets, owner-operators, plus installers – rely heavily on their various suppliers for such components as suspension controls. Meritor’s comprehensive offering offers a one-stop-shopping alternative to the other suppliers.     

 

“Our customers want fast and reliable choices and now they have the quality assurance of Meritor. Offering these controls is a natural complement to our other products,” Bauer said.

 

The company’s sister brand, Euclid, has offered customers suspension components for many years: bushings, equalizers, hangers, u-bolts, threaded rods, torque rods, air springs, shock absorbers, urethane components and air valves and repair kits.

 

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

CONTACTS:


Media Inquiries
Mike Pennington

248-670-5736

david.pennington@meritor.com

 

Investor Inquiries
Christy Daehnert

248-435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor Builds 10 Millionth North American-Made Trailer Axle
  
Jan 30 2013

FRANKFORT, Ky. (Jan. 30, 2013) — Meritor (NYSE: MTOR) celebrated its 10 millionth trailer axle made in North America today at its Frankfort, Ky. manufacturing facility.

 

“This is an important milestone that underscores Meritor’s long heritage of providing innovative, market-leading products,” said Pedro Ferro, vice president and president, Aftermarket & Trailer. “Our experience in designing and manufacturing trailer components puts us at the forefront of axle innovation.”

 

Today, the company has more than 50 different axles for use in a broad range of trailer applications. Meritor’s lightweight, durable and highly serviceable portfolio of trailer axles includes straight, drop and crank product offerings that can be customized for each customer’s specific trailer application needs.

 

“We are proud that Meritor trailer axles are produced using American-made steel, formed into American-made tubing and fabricated into finished axles in our Frankfort, Ky. plant,” said Craig Frohock, general manager, North America Aftermarket & Trailer. “Since we opened our first facility dedicated to trailer products in Kenton, Ohio in 1948, Meritor has taken great pride in its American heritage, as well as in offering the most complete commercial axle portfolio with a wide breadth of solutions for global trailer applications.”

 

The milestone axle will be installed on a trailer manufactured by Wabash National and will ultimately become part of the Werner Enterprises fleet. Meritor axles are standard equipment on all Wabash trailers.

 

An axle commemorating the 10 millionth will be signed by all employees at the Frankfort plant and will become a permanent display at that facility.

 

“Reaching this milestone is a testament to the Frankfort workforce and their commitment to building products that deliver superior results,” said Brett Fisher, Frankfort site manager. “Meritor's trailer products are manufactured to the very highest quality standards to provide a reliable and long-lasting solution for customers around the globe.”

 

Meritor trailer systems and components are backed by Meritor’s industry-competitive warranty, global services and support from the nationwide DriveForce professionals.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com.

 

 

CONTACT:

 

Media Inquiries

 

Kathy Rakowiecki

248-463-0928

kathy.rakowiecki@meritor.com

 

Robert Herta

248-435-1185

robert.herta@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor to Host Analyst Day in New York on Feb. 5: Accessible By Webcast and Conference Call
  
Jan 31 2013

TROY, Mich., (Jan. 31, 2013) — Meritor, Inc. (NYSE: MTOR) will host a webcast and conference call of its Analyst Day presentations on Tuesday, Feb. 5, from 9 a.m. to noon (ET) at the Waldorf Astoria New York in New York City.

 

Investment community professionals who would like to attend the conference in person must register in advance as space is limited. Email Lisa Brickler at investor.relations@meritor.com by 1 p.m. (ET) on Friday, Feb. 1. If you have already registered, no action is necessary at this time.

     

Investors can access the webcast (audio and slides combined) in real time by visiting the Investors section of Meritor.com. To participate by conference call, dial 888-713-4218 (within the United States), or 617-213-4870 (from outside the United States) 10 minutes prior to the start of the call. Please reference pass code 36508676 when dialing in. Presentation slides will be available 30 minutes prior to the event on the “Presentations” page of the Investors section of Meritor’s website at Meritor.com.

 

A replay of the call will available for 30 days, by visiting the Investors section of the company’s website at meritor.com.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Investor Inquiries
Christy Daehnert

Office: 248-435-9426

christy.daehnert@meritor.com  

 

Media Inquiries
Robert Herta

Office: 248-435-1185

Cell: 248-979-8043

robert.herta@meritor.com
Press ReleaseCompanyGlobal 
Meritor and The Henry Ford Shaping Future of Education Through Innovation and Technology
  
Feb 25 2013

 

Innovation Education Incubator pilot project in K-12 classrooms across the nation

 

TROY, Mich., (Feb. 25, 2013) —The Henry Ford’s Innovation Education Incubator (IEI), launched in April 2011 with the support of a three-year pledge from Meritor, is building momentum among educators nationwide by bringing innovative digital education resources and game-changing teaching strategies into K-12 classrooms.

 

Forty teachers and 1,000 students field-tested The Henry Ford’s new resources and four key curricula products, including Innovation 101, in classrooms and participated in a third-party evaluation. The IEI pilot teachers came from Michigan as well as California, Texas, New York, Massachusetts and Pennsylvania.

 

The purpose of the training module is to promote technology and innovation skills among students and inspire them to achieve through the lessons of past innovators such as Henry Ford, Thomas Edison and Rosa Parks as well as current-day innovators like Bill Gates, Dean Kamen and Steve Wozniak. Students said they learned about science, technology, engineering and math, also referred to as “STEM,” and the process of innovation. Some said that these materials changed their minds and how they approach the world today.  

 

“We’re pleased with the outcome of the IEI pilot project, “said Chip McClure, chairman, CEO and president of Meritor. “The pilot provided an objective and independent evaluation of The Henry Ford’s unique and innovative educational resources and methodology for teachers and students. The Henry Ford will now be able to objectively demonstrate that its products are both effective and valuable for teachers and can engage students to acquire 21st century skills.”

 

Among the different curricula tested in the IEI, Innovation 101 was the product most used. Results from the pilot project showed that Innovation 101, for example, rated 9 or 10 (10 being highest) by most who used it. Virtually all of the teachers indicated the Innovation 101 module promoted critical thinking and creativity.

 

By providing classrooms across the nation with cutting-edge digital resources, The Henry Ford is not only changing the way teachers teach, but also the way students learn,” said Patricia E. Mooradian, president of The Henry Ford. “The tools that the IEI offers provide students with the critical thinking, communication, collaboration and creativity skills that are needed to be successful in college and in today’s ever-changing workplace.”

 

“We are honored to partner with The Henry Ford and look forward to the impact this program will have on our nation's students and future talent base," McClure said.  “Meritor’s commitment to social responsibility, and in particular, support for education in the areas of math, science and technical subjects, is vital for workforce readiness.  Our company relies on the skills and innovations of our engineers and technical employees around the globe to enhance our competitiveness.  We fully expect that outcomes from the IEI pilot have the potential to move education in an important new direction.”  

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at meritor.com. 

 

 

About The Henry Ford

The Henry Ford, in Dearborn, Michigan, is the world’s premier history destination and a National Historic Landmark that celebrates American history and innovation. Its mission is to provide unique educational experiences based on authentic objects, stories and lives from America’s traditions of ingenuity, resourcefulness and innovation. Its purpose is to inspire people to learn from these traditions to help shape a better future. Five distinct attractions at The Henry Ford captivate more than 1.5 million visitors annually: Henry Ford Museum, Greenfield Village, The Ford Rouge Factory Tour, The Benson Ford Research Center and The Henry Ford IMAX Theatre. The Henry Ford is also home to Henry Ford Academy, a public charter high school which educates 485 students a year on the institution’s campus and was founded in partnership with The Henry Ford, Ford Motor Company and Wayne County Public Schools. For more information please visit our website thehenryford.org.

 

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

 Jerry Rush

(248) 435-7907

jerry.rush@meritor.com

 

 

 

Press ReleaseCompanyGlobal 
Meritor Announces Pricing of $275 Million of Senior Unsecured Notes
  
May 28 2013

TROY, Mich. – May 28, 2013 – Meritor, Inc. (NYSE: MTOR) today announced the pricing of its senior unsecured notes in an aggregate principal amount of $275 million in an underwritten registered public offering (the “Notes”).  The $275 million of Notes will mature on June 15, 2021 and will bear interest at an annual rate of 6-3/4%.  The offering is expected to close on May 31, 2013, subject to customary closing conditions.

 

Meritor intends to use the net proceeds from the offering to repurchase any and all of its 8-1/8% Notes due 2015 in its previously announced cash tender offer and consent solicitation and for general corporate purposes.

 

Citigroup, J.P. Morgan, BofA Merrill Lynch, RBS and UBS Investment Bank are acting as joint book-running managers for the offering.

 

This press release is not an offer to sell and is not soliciting an offer to buy any of the securities, nor shall there be any offer or sale of the securities in any jurisdiction where the offer or sale is not permitted.  An effective shelf registration statement related to the Notes has previously been filed by Meritor with the Securities and Exchange Commission.  The offering of securities is being made by means of a prospectus supplement and accompanying prospectus.  Copies of the prospectus supplement and the accompanying prospectus can be obtained from:

 

Citigroup Global Markets Inc.

Citigroup, c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Attn: Prospectus Department

Telephone: 1-800-831-9146
Email: batprospectusdept@citi.com

 

J.P. Morgan Securities LLC

383 Madison Avenue

New York, New York 10179

Attn: Syndicate

Telephone: 1-800-245-8812

 

Merrill Lynch, Pierce, Fenner & Smith Incorporated

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Attn: Prospectus Department

Telephone: 1-800-294-1322

 

RBS Securities Inc.

600 Washington Boulevard

Stamford, Connecticut 06901

Attn: Debt Capital Markets Syndicate

Telephone: 1-866-884-2071

 

UBS Securities LLC

299 Park Avenue

New York, New York 10171

Attn: Prospectus Specialist

Telephone: 1-877-827-6444, ext. 561 3884

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries.  Meritor’s common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

Forward-Looking Statements

This press release contains statements relating to our future results (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “estimate,” “should,” “are likely to be,” “will” and similar expressions.  Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to failure to receive the Brazilian regulatory approvals required to complete the sale of our ownership stake in Suspensys Sistemas Automotivos Ltda. or to otherwise successfully complete the sale of such ownership stake; failure to consummate our debt tender offer due to financing or other conditions; reduced production for certain military programs and our ability to secure new military programs as our primary military programs wind down by design in future years; reliance on major original equipment manufacturer (“OEM”) customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations, and our ability to obtain new customers; the outcome of actual and potential product liability, warranty and recall claims; our ability to successfully manage rapidly changing  volumes in the commercial truck markets and work with our customers to adjust their demands in view of rapid changes in production levels; global economic and market cycles and conditions; availability and sharply rising costs of raw materials, including steel, and our ability to manage or recover such costs; our ability to manage possible adverse effects on our European operations, or financing arrangements related thereto, in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); rising costs of pension and other postretirement benefits; the ability to achieve the expected benefits of restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle productions in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; and possible changes in accounting rules; as well as other substantial costs, risks and uncertainties, including but not limited to those detailed herein and in our Annual Report on Form 10-K for the year ended September 30, 2012, as amended, and from time to time in our other filings with the SEC. See also the following portions of our Annual Report on Form 10-K for the year ended September 30, 2012, as amended: Item 1. Business, “Customers; Sales and Marketing”; “Competition”; “Raw Materials and Supplies”; “Employees”; “Environmental Matters”; “International Operations”; and “Seasonality; Cyclicality”; Item 1A. Risk Factors; Item 3. Legal Proceedings; and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. These forward-looking statements are made only as of the respective dates on which they were made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

 

CONTACTS:

 

Media Inquiries

Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries

Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Earns Prestigious PACCAR Quality Achievement Award for Superior Parts Quality
  
Jul 17 2013

TROY, Mich. (July 17, 2013) – Meritor, Inc. (NYSE: MTOR) earned its fourth consecutive Quality Achievement Award from PACCAR, Inc. The award is one of the industry’s most demanding for parts and component quality and recognizes suppliers that have achieved a defect rate of 50 parts per million (PPM) or less during 2012.

 

Four Meritor manufacturing facilities received PACCAR’s 2012 Quality Achievement Award: Forest City, N.C.; Cienega, Mexico; Frankfort, Ky.; and Sisamex, the company’s joint venture with Quimmco in Monterrey, Mexico.

 

“Earning this award for several years at multiple manufacturing sites underscores our deep commitment to providing customers with the highest-quality components in the industry,” said Wayne Watson, general manager, Commercial Vehicle Systems Operations, North America, Meritor. “Drivers can be confident in the reliability and performance of Meritor parts.”

 

Meritor supplies axles, braking systems and other drivetrain components for PACCAR’s Kenworth, Peterbilt and DAF commercial trucks.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Michigan, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor’s common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:

 

Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries
Christy Daehnert

(248) 435-9426

christy.daehnert@meritor.com

Press ReleaseCompanyGlobal 
Meritor is First Company to Receive ECE R90 Certification for Brake Discs
  
Aug 27 2013

TROY, Mich. (August 27, 2013) – With Meritor’s (NYSE: MTOR) continued focus on world-class quality, the company’s European Aftermarket business received the first ECE R90 certification for Meritor AllFit brake discs from the Vehicle Certification Agency (VCA).

“Passing this certification is a testament to the performance and durability of our Meritor AllFit brake disc family,” said Michael Boe, managing director, Aftermarket Europe, Meritor. “These parts have similar performance attributes as original equipment parts and are put through rigorous tests to meet high standards.”

During VCA testing, parts are evaluated for geometry, material specifications, wear condition, service brake vehicle performance, comparison with dynamic frictional properties of the original part and high load and thermal fatigue integrity tests.

Each disc was tested using R90-approved MDP3000 pads and met each requirement. Testing included 15 or more cycles without damage or failure for thermal fatigue, 500 cycles without failure for R90 high strength test, and 10 cycles testing for surface cracks up to 2/3 radial width of the friction surface.

The VCA is an executive agency of the United Kingdom’s Department for Transport, Type Approval Authority and a leading certification body.

“Meritor works continuously to further refine replacement part validation processes and original equipment tests, ensuring products meet customer requirements,” added Boe.

About Meritor, Inc.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor’s common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

CONTACT:

Media Inquiries
Robert Herta
(248) 435-1185
robert.herta@meritor.com

Press ReleaseCompanyGlobal 
Meritor Names Thomas Pajonas to its Board of Directors
  
Sep 16 2013

TROY, Mich. (Sept. 16, 2013)) — The Board of Directors of Meritor, Inc. (NYSE: MTOR) today announced that it has elected Thomas L. Pajonas to the Board of Directors as a Class I director with a term expiring at the 2016 annual meeting of shareholders.

Pajonas has served as senior vice president and chief operating officer of Flowserve Corp. since January 2012. Prior to that, he served as president of the Flow Control Division from 2004 to 2012, holding the positions of vice president from 2004 to 2006 and senior vice president from 2006 as an officer of Flowserve Corp.

Before joining Flowserve Corp., he was managing director of Alstom Transport’s U.S. rail products unit, and from 1999 to 2003, Pajonas was senior vice president of the Worldwide Power Boiler Business of Alstom, Inc. Prior to that, he served in various capacities as senior vice president and general manager International Boiler Operations and subsequently senior vice president and general manager Standard Boilers Worldwide of Asea Brown Boveri, including supply chain, power products manufacturing, and strategic operations.

He holds a B.S.M.E. from Worcester Polytechnic Institute and an MBA from Rensselaer Polytechnic Institute.

“We are pleased that Tom has agreed to become a member of Meritor’s Board of Directors,” said David W. Devonshire, presiding director of Meritor’s board. “His extensive global leadership and operational experience combined with a strong manufacturing and engineering background make him a great addition and an excellent choice for this important role.”

About Meritor, Inc.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor’s common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

CONTACTS:

Media Inquiries
Robert Herta
(248) 435-1185
robert.herta@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor Reports First-Quarter Fiscal Year 2014 Results: Achieves Net Income of $11 Million and Earnings Per Share of $0.11
  
Jan 29 2014

TROY, Mich. (Jan. 29, 2014) - Meritor, Inc. (NYSE: MTOR) today reported financial results for its first fiscal quarter ended Dec. 31, 2013.

First-Quarter Highlights

  • Sales were $907 million, up $16 million or 2 percent, from the same period last year.
  • Net income on a GAAP basis was $11 million, compared to a net loss of $21 million in the same period last year.
  • Adjusted EBITDA was $70 million, compared with $46 million in the same period last year.
  • Adjusted EBITDA margin of 7.7 percent, compared to 5.2 percent in the same period last year.
  • Free cash flow was negative $16 million in the first quarter of fiscal year 2014, compared to negative $106 million in the same period last year.

“We expanded our Adjusted EBITDA margin by 250 basis points from the same quarter last year despite the planned step down in our defense business,” said Chairman, CEO and President Ike Evans. “We’re executing well on our M2016 performance initiatives which are continuing to drive improved financial results.”

First-Quarter Results
For the first quarter of fiscal year 2014, Meritor posted sales of $907 million, up 2 percent from the same period last year. The increase was primarily due to higher commercial truck production in Europe and South America, partially offset by lower defense revenue and continued weakness in India.

Net income from continuing operations, on a GAAP basis, was $11 million or $0.11 per diluted share, compared to a loss from continuing operations of $16 million or $0.17 per diluted share in the prior year. The increase in net income from continuing operations was primarily driven by the execution of global pricing initiatives throughout calendar year 2013, lower material and structural costs and slightly higher revenues.

Adjusted income from continuing operations in the first quarter of fiscal year 2014 was $12 million, or $0.12 per diluted share, compared to an adjusted loss from continuing operations of $11 million, or $0.11 per diluted share, a year ago.

Adjusted EBITDA was $70 million, compared to $46 million in the first quarter of fiscal year 2013. Adjusted EBITDA margin for the first quarter of fiscal year 2014 was 7.7 percent, compared to 5.2 percent in the same period last year.

Cash flow used by operating activities in the first quarter of fiscal 2014 was negative $4 million, compared to negative $91 million in the same period last year. Free cash flow for the first quarter of fiscal year 2014 was negative $16 million, compared to negative $106 million in the same period in the prior year. The improvement is primarily due to an increase in factored receivables, less cash used for working capital and higher net income.

First-Quarter Segment Results
Commercial Truck & Industrial sales were $727 million, up $12 million, compared with the same period last year. This increase was primarily driven by higher revenue in Europe and South America, partially offset by lower defense revenue and continued weakness in India. Segment EBITDA for the Commercial Truck & Industrial segment was $53 million for the quarter, up $19 million or 56 percent from the first quarter of fiscal year 2013. Segment EBITDA margin increased to 7.3 percent, up from 4.8 percent in the same period last year. Year-over-year reductions in material and structural costs and the favorable impact of higher revenue in Europe and South America more than offset the unfavorable impact of the planned step-down in the company’s defense revenue.

The Aftermarket & Trailer segment posted sales of $208 million, up $5 million from the same period last year. Segment EBITDA for Aftermarket & Trailer was $19 million, up $6 million or 46 percent from the first quarter of fiscal year 2013. Segment EBITDA margin improved to 9.1 percent from 6.4 percent in the first quarter of fiscal year 2013. The increase in segment EBITDA margin was primarily due to pricing actions executed throughout calendar year 2013 and lower material and structural costs.

M2016 Priorities
The company remains focused on M2016, its detailed three-year plan for achieving margin, leverage, and growth targets through driving operational excellence, focusing on customer value, reducing product costs and investing in a high performing team. M2016 includes three financial targets for driving sustainable strength:

  • Achieve 10 percent adjusted EBITDA margin for the full year 2016.
  • Reduce net debt, including retirement benefit liabilities, by $400 million to less than $1.5 billion.
  • Generate incremental booked revenue of $500 million per year (at run-rate) between the beginning of fiscal year 2013 and the end of fiscal year 2016 (from new products, new customers or new programs).

Outlook for Fiscal Year 2014
The company is reaffirming guidance as follows:

  • Revenue to be approximately $3.7 billion.
  • Adjusted EBITDA margin to be approximately 7.5 percent.
  • Adjusted earnings per share from continuing operations in the range of $0.30 to $0.40.
  • Total free cash flow to be about breakeven to $25 million.

The company continues to anticipate the following for the entire company:

  • Capital expenditures in the range of $80 million to $90 million.
  • Interest expense in the range of $105 million to $115 million.
  • Cash interest in the range of $85 million to $95 million.
  • Cash income taxes in the range of $45 million to $55 million.

“We’re confident that our business initiatives and cost management actions will enable us to improve margins for the year despite our expectations for flat year-over-year revenue,” said Evans.

First-Quarter Fiscal Year 2014 Conference Call
Meritor will host a conference call and webcast to discuss the company’s first-quarter results for fiscal year 2014 on Wednesday, Jan. 29, 2014, at 9 a.m. (ET).

To participate, call (617) 213-4846, 10 minutes prior to the start of the call. Please reference passcode 10695914 when registering. Investors can also listen to the conference call in real time or access a recording of the call for seven days after the event by visiting the investors page on meritor.com.

A replay of the call will be available starting at 1 p.m. on Jan. 29, until 11:59 p.m. Feb. 5, by calling (888) 286-8010 (within the United States) or (617) 801-6888 for international calls. Please refer to replay passcode 60154192. To access the listen-only audio webcast, visit meritor.com and select the webcast link from the home page or the investor page.

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

Forward-Looking Statement
This release contains statements relating to future results of the company (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “believe,”expect,”anticipate,”estimate,”should,”are likely to be,”will” and similar expressions. SEC filings may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to reduced production for certain military programs and our ability to secure new military programs as our primary military programs wind down by design in future years; reliance on major original equipment manufacturer (“OEM”) customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations and our ability to obtain new customers; the outcome of actual and potential product liability, warranty and recall claims; our ability to successfully manage rapidly changing  volumes in the commercial truck markets and work with our customers to adjust their demands in view of rapid changes in production levels; global economic and market cycles and conditions; availability and sharply rising costs of raw materials, including steel, and our ability to manage or recover such costs; our ability to manage possible adverse effects on our European operations, or financing arrangements related thereto, in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); rising costs of pension and other postretirement benefits; the ability to achieve the expected benefits of restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle productions in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; and possible changes in accounting rules; as well as other substantial costs, risks and uncertainties, including but not limited to those detailed herein and from time to time in other filings of the company with the SEC. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

All earnings per share amounts are on a diluted basis. The company's fiscal year ends on the Sunday nearest Sept. 30, and its fiscal quarters generally end on the Sundays nearest Dec. 31, March 31 and June 30. All year and quarter references relate to the company's fiscal year and fiscal quarters, unless otherwise stated.

Non-GAAP Measures
In addition to the results reported in accordance with accounting principles generally accepted in the United States (“GAAP”) included throughout this press release, the company has provided information regarding Adjusted income or loss from continuing operations, Adjusted diluted earnings per share from continuing operations, Adjusted EBITDA, Adjusted EBITDA margin, free cash flow and free cash flow from continuing operations before restructuring payments and net debt which are non-GAAP financial measures.

Adjusted income (loss) from continuing operations and Adjusted diluted earnings (loss) per share from continuing operations are defined as reported income or loss from continuing operations and reported diluted earnings or loss per share from continuing operations before restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA is defined as income (loss) from continuing operations before interest, income taxes, depreciation and amortization, non-controlling interests in consolidated joint ventures, loss on sale of receivables, restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by consolidated sales. Free cash flow is defined as cash flows provided by (used for) operating activities less capital expenditures. Net debt including retirement liabilities is defined as total debt plus pension assets, pension liability, retiree medical liability and other retirement benefits less cash and cash equivalents.

Management believes that the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the company's financial position and results of operations. In particular, management believes that Adjusted EBITDA and Adjusted EBITDA margin are meaningful measures of performance as they are commonly utilized by management and the investment community to analyze operating performance in our industry. Further, management uses Adjusted EBITDA for planning and forecasting future periods. Management believes that free cash flow is useful in analyzing our ability to service and repay debt. Net debt including retirement liabilities is a specific financial measure which is part of our three-year plan, M2016, to reduce debt and other balance sheet liabilities.

Adjusted income (loss) from continuing operations, Adjusted diluted earnings (loss) per share from continuing operations and Adjusted EBITDA should not be considered a substitute for the reported results prepared in accordance with GAAP and should not be considered as an alternative to net income as an indicator of our operating performance or to cash flows as a measure of liquidity. Free cash flow should not be considered a substitute for cash provided by (used for) operating activities, or other cash flow statement data prepared in accordance with GAAP, or as a measure of financial position or liquidity. In addition, these non-GAAP cash flow measures do not reflect cash used to service debt or cash received from the divestitures of businesses or sales of other assets and thus do not reflect funds available for investment or other discretionary uses. These non-GAAP financial measures, as determined and presented by the company, may not be comparable to related or similarly titled measures reported by other companies.

Set forth on the following pages are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP.

Segment EBITDA and EBITDA Margins
Segment EBITDA is defined as income (loss) from continuing operations before interest expense, income taxes, depreciation and amortization, noncontrolling interests in consolidated joint ventures, loss on sale of receivables, restructuring expense and asset impairment charges. We use Segment EBITDA as the primary basis for the Chief Operating Decision Maker to evaluate the performance of each of our reportable segments.

CLICK HERE TO VIEW FINANCIAL STATEMENTS

CONTACTS:

Media Inquiries
Robert Herta
(248) 435-1185
robert.herta@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor's York, S.C., Facility Receives Chairman's Quality Award Facilities in North America and Europe Recognized with Gold and Silver Awards
  
Feb 26 2014

TROY, Mich. (Feb. 26, 2014) — Meritor Inc. (NYSE: MTOR) is presenting its most prestigious honor, the Chairman’s Award, to its York, S.C., United States facility for its dedicated efforts to increase product and manufacturing quality. Additional facilities in North America and Europe received gold and silver awards for quality achievements.

“Quality is a top priority for our customers, our company and our employees globally,” said Joe ElBehairy, vice president, Engineering, Quality and Product Strategy. “We want to recognize the teams that engineered and manufactured the highest quality products for our customers and achieved strategic quality goals, such as zero defects and reduced parts per million (PPM).”

           

The Chairman’s Award recognizes the following York employees for their efforts in enhancing the EX225 air disc brake assembly operation:

  • Ken Potts
  • Kevin Terry
  • Sam Addison
  • Johnny Eite
  • Jason Wallace
  • Jason Grasman
  • Anwaar Ahmad
  • Dennis Williams
  • Susan Brady
  • Paola Carmona

The York team developed a system to mistake-proof its manufacturing processes and ensure correct brake builds. At the plant, this process improved EX225 air disc brake assembly quality to zero reported PPM in 2013, despite a tenfold increase in brake product complexity.
“Air disc brake acceptance has been growing in North America, and the York team has done an exceptional job to accomplish zero PPM for our EX225 air disc brakes, which will provide the reliability customers need,” ElBehairy added.

            Employee teams earning gold awards for quality improvements were Cameri, Italy, Asheville, N.C., United States and the Sisamex facility in Mexico. Silver awards were presented to Asheville, N.C., United States, Lindesberg, Sweden, Monterrey, Mexico, Cameri, Italy and the Sisamex facility in Mexico.

            As part of the company’s goals, quality continues to be at the forefront as employees continuously develop improved processes to manufacture improved products, ElBehairy added.

           

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

                                                                   CONTACTS:

Media Inquiries
Robert Herta
(248) 435-1185
robert.herta@meritor.com
                       
Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Increases Permalube™ RPL Driveline Warranty Coverage
  
Mar 03 2014

TROY, Mich., (March 3, 2014) — Meritor, Inc. (NYSE: MTOR) has extended the warranty eligibility for Permalube RPL drivelines to 5 years/500,000 miles from the previous 4 years/400,000 miles for model year 2015 linehaul vehicles.

“Meritor’s Permalube RPL driveline was the first available permanently lubricated driveline for linehaul vocations and is now the first to offer this type of warranty coverage,” said Chad Mitts, general manager, North America, Brakes and Drivelines for Meritor. “The Permalube RPL driveline has great performance, durability and warranty coverage and will offer extended life with minimal downtime and maintenance to customers.”

The Permalube RPL driveline offers a bearing package with large-diameter trunions and precision-tolerance needle bearings for optimum bearing alignment and maximized performance. The RPL is permanently lubricated with Meritor’s specially formulated wear and temperature-resistant grease. Two-piece U-joint thrust washers prevent bearing end wear and absorb loads for minimized wear and extended lifecycle. The driveline is retained with four patch lock bolts for simplified installation and ease of service.

Meritor’s warranty coverage and how to submit claims can be found on the company’s website at meritor.com under the customer care tab.

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

CONTACTS:

Media Inquiries
Kathy Rakowiecki
(248) 435-1472
kathy.rakowiecki@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor Names Melekian 2013 Product Engineer of the Year
  
May 20 2014

TROY, Mich. (May 20, 2014)  Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently named Joseph Melekian the company’s 2013 Product Engineer of the Year.

 

Melekian, senior materials engineer at Meritor’s Troy, Michigan headquarters, earned the award for developing and/or optimizing manufacturing and inspection processes worldwide by targeting areas of fabrication welding, cast products and material selection. Among them are brake component welding development, a new window-welding procedure for trailer axle manufacturing, axle housing and brake products, cast process optimization and a leading-edge laser-welding inspection process.

 

“Joe is recognized around the world for his significant contributions on multiple projects that are helping Meritor meet customer needs,” said Joe ElBehairy, vice president, Engineering, Quality and Product Strategy for Meritor. “His influence on critical programs and subsequent results of those programs in the last 12-18 months has earned him this award.”

 

Melekian lives in Rochester Hills, Michigan. He earned a Bachelor of Science degree in materials science and engineering from Michigan State University in East Lansing, Michigan.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Names Masseth 2013 Manufacturing Engineer of the Year
  
May 20 2014

TROY, Mich. (May 20, 2014) Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently named Jack Masseth the company’s 2013 Manufacturing Engineer of the Year.

 

Masseth, manager, Gearing, Advanced Manufacturing for Meritor, earned the award for leadership in the development of the company’s global gear manufacturing processes and technologies. His expertise helped the company standardize its bevel gear manufacturing processes worldwide and improve quality and efficiency. Masseth has also been a major contributor in launching Meritor’s high-speed dry-hobbing and ceramic-honing processes.

 

“Jack is highly regarded within Meritor and as a world-class expert in gear manufacturing engineering,” said Chris Villavarayan, president, Americas for Meritor. “He has a unique ability to develop, champion and implement new technologies and processes.”

 

Masseth lives in Brighton, Michigan. He earned his bachelor’s degree in mechanical Engineering from the Rochester Institute of Technology in Rochester, New York.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Honors Ramirez with 2013 Manufacturing Lifetime Engineering Achievement Award
  
May 20 2014

MORRISTOWN, Tenn. (May 20 2014) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently honored  Jesse Ramirez with the company’s 2013 Manufacturing Lifetime Engineering Achievement Award.

 

Ramirez, senior gear development engineer at Meritor’s Morristown, Tennessee facility, earned the award for developing precision forging and machining processes that have improved product quality and reduced costs. Since beginning his career at Meritor as an industrial engineer in 1986, Ramirez has worked as a tool and gear engineer and assumred roles with increasing areas of responsibility.

 

“Precision forging is technology developed by Meritor, and Jesse was instrumental in implementing it in Morristown,” said Chris Villavarayan, president, Americas for Meritor. “His expertise has been important in our ongoing efforts to invest in the latest technological innovations that help Meritor manufacture high-quality, competitive products.”

 

Ramirez lives in Morristown.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Robert Herta

(248) 435-1185

robert.herta@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® to Showcase its ELSA Family of Air Disc Brakes at IAA
  
Sep 24 2014

HANNOVER, Germany (Sept. 24, 2014)  Meritor® (NYSE: MTOR) will feature its ELSA air disc brake (ADB) series at the 65th IAA Commercial Vehicles 2014 show Sept. 25-Oct. 2 in Hannover, Germany.

 

“We use best-in-class manufacturing processes to build brakes that are weight-optimized and deliver performance with longer component life,” said Tony Nicol, general manager, Brakes, Europe for Meritor. “Our recent contract with Scania exemplifies our commitment to be a recognized leader in brake engineering, testing and manufacturing.”

 

Meritor builds ELSA brakes with modular construction to suit any wheel and axle combination. Each brake is built with common parts and fewer loose components to increase product lifetime.

 

ELSA brakes are manufactured in the United Kingdom, United States, Brazil, India, Japan and China. Meritor’s Cwmbran, United Kingdom facility has become the company’s ADB center of excellence that is leading new product development for the next generation of brakes.

 

Since production began in 2000, Meritor has manufactured more than 4 million ELSA brakes for a diversified customer base in North and South America, Europe and Asia. In 2014, Meritor began to supply its ELSA 225H range of brakes for Scania’s trucks and buses.

 

ELSA brakes that will be showcased at the IAA in booth 26 D12 are the ELSA 225H (Iveco Bus), ELSA 225H90, ELSA 225L, ELSA 225T, EX+ 225L, ELSA 225H (Scania), SAC DRUM and the heavy duty S-CAM DRUM.

           

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Krista Sohm

(248) 435-7115

krista.sohm@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® 10X Axle to be Featured at World’s Largest Commercial Vehicle Show
  
Sep 24 2014

            HANNOVER, Germany (Sept. 24, 2014)  Meritor® (NYSE: MTOR) will demonstrate its versatile new 10X drive axle, which is meeting demand for reliability and longer life across multiple applications in emerging markets at the 65th IAA Commercial Vehicles 2014 show Sept. 25-Oct. 2 in Hannover, Germany.

 

Engineered initially for the light commercial vehicle segment in India, the 10X is built for higher payload capacity, fuel efficiency and strength to accommodate road conditions for challenging terrains.  The fully dressed axle provides OEMs with a single drivetrain solution for the light-duty market and will also be launched in South America.

 

“Our customers require axles that are lighter and more compact for evolving road conditions,” said Joe ElBehairy, vice president, Engineering, Quality and Product Strategy for Meritor. “We designed the 10X for improved mobility and long life across a wide application range.”

 

Meritor’s weight-optimized design and use of advanced materials gives the 10X a low weight that improves fuel efficiency and increases payload capacity. Ten available gear ratios further improve fuel economy. Best-in-class gear-cutting processes deliver longer gear life and increased reliability, and Meritor’s Quiet Ride™ gearing improves the riding experience for bus and coach passengers. The 10X is ISO-certified for consistent quality.

 

The 10X is available with a front-drive variant, high-performance drum brakes and driver-controlled differential lock to improve performance.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:

 

Media Inquiries

Krista Sohm

(248) 435-7115

krista.sohm@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

 

 

 

Press ReleaseCompanyGlobal 
Meritor Demonstrates Global Axle and Brake Capabilities at IAA Commercial Vehicles 2014
  
Sep 24 2014

HANNOVER, Germany (Sept. 24, 2014)  Meritor, Inc. (NYSE: MTOR) will showcase the versatility of its axles, brakes and drivelines for the global trucking industry at the 65th IAA Commercial Vehicles 2014 show Sept. 25-Oct. 2 in Hannover, Germany, booth 26 D12.

 

Meritor will exhibit its global capabilities for light-, medium- and heavy-duty applications with regional specifications.

 

“Industry professionals from around the world can learn about Meritor’s solutions for commercial vehicle applications in North and South America, Europe and Asia Pacific,” said Jay Craig, president and chief operating officer for Meritor. “We set ourselves apart by designing components that consistently add high value for end-customers.”

 

With more than 100 years of product knowledge and a presence in 18 countries, Meritor engineers products to meet industry demand for fuel-efficient commercial vehicles that are durable and flexible across a wide range of applications in global markets.

 

North America

Meritor products, which are available through all OEMs in North America, are engineered for flexibility, performance and reliability across multiple vehicle applications:

 

·      14X™ axle: Designed and manufactured in North America. The best-in-class design is the most-used axle in North America.

·      EX+™ air disc brake (ADB): The twin-piston ADB is based on a proven European design to offer improved stopping distance and superior resistance to fade during frequent stops and prolonged downhill use.

·      RPL 35™ and RPL 35SD™ drivelines: The low-maintenance drivelines feature a robust design for reduced maintenance and are built to travel more than 1 million miles without lubrication.

 

Europe

Meritor offers solutions for every application on the road in Europe:

 

·      17X EVO™ drive axle: Designed and manufactured in Europe with higher power density and fast ratios, the 17X EVO is lightweight and delivers improved fuel efficiency.

·      ELSA™ series air disc brakes: The ELSA line features a lightweight design to deliver higher torque and more stopping power at a lower cost. 

·      LogixDrive™ axle: Built for high-mileage linehaul applications, the “thinking” axle uses a performance logic system to optimize oil level depending on speed and torque for improved fuel efficiency.

 

South America

With five decades of market experience and industry leadership in South America, Meritor offers reliability, durability and reduced maintenance costs to the commercial vehicle industry:

 

·      18X™ axle: Designed in Europe and manufactured in Europe and South America to serve the most demanding applications. The 18X improves efficiency and reliability over a longer lifetime and is laser-welded to improve durability.

·      RPL 35™ and RPL 35SD™ drivelines: Engineered to be highly durable and more robust, both drivelines are built to travel more than 1 million miles without lubrication.

·      Q+™ drum brakes: Built with cast and stamped spider options for improved reliability, the automatic braking system is available in 16 ½-inch, 15-inch and  325-mm variants.

 

Asia Pacific

Meritor engineers and manufactures products for multiple markets in the region featuring higher payload capacity, performance and mobility with better serviceability across applications, including the increasingly popular light commercial vehicle segment:

 

·      MS10X™ axle: Built with a power-dense design, the MS10X is compact and light but can handle higher payloads. Its unique banjo design increases ground clearance, and oil-lubricated wheel-end allows easier serviceability.

·      MX610™ front-drive axle: Engineered for extreme demands, the axle is designed and manufactured in India for 4x4, 6x6, 8x8, 10x10 and 12x12 applications requiring maneuverability and high ground clearance; built for higher payload, performance and mobility

·      ELSA 225H™ air disc brake: Featuring a European platform localized for China, the air disc brake is engineered for high durability and reliability and best-in-class wear performance.

       

“We’re uniquely positioned to offer product solutions that are adaptive to the unique needs of commercial vehicle customers around the world,” Craig said.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Krista Sohm

(248) 435-7115

krista.sohm@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Launches RPL35™ and RPL35SD™ Drivelines for Linehaul and Heavy Service Applications
  
Oct 06 2014

SAN DIEGO, Calif. (Oct. 6, 2014)  Meritor® (NYSE: MTOR) announced today the introduction of the newest members of the Permalube™ RPL family. The high-capacity RPL35 and RPL35SD™ drivelines are engineered for linehaul and heavy-service applications in North and South America. 

 

“The RPL35 and RPL35SD expand upon the proven Permalube RPL family with their high torque capacity designed for engine downspeeding and heavy service applications,” said Ken Lang, senior product line manager for Meritor.

 

The RPL35, when combined with an RPL25 inter axle, is designed to handle the higher torque imposed on drivelines from downspeeding engines for fuel economy in linehaul applications. Downspeeding is a current trend employing direct drive transmissions and fast axle gear ratios to maintain vehicle road speed at lower engine rpm.

 

The RPL35SD is designed for heavy-haul and three-axle (tridem) applications with GCW ratings ranging from 140,000 pounds to 190,000 pounds. Both drivelines incorporate proven European-style flange connections for secure transfer of torque and ease of installation and removal.

 

“The RPL35 and RPL35SD extend the RPL range to additional applications that help fleets achieve increased efficiency and durability at lower maintenance costs along with the industry’s leading warranty at five-year/500,000 miles available for linehaul applications,” Lang said.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Krista Sohm

(248) 435-7115

krista.sohm@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® to Host Analyst Day in New York on Feb. 5
  
Jan 08 2015

TROY, Mich. (Jan. 8, 2015) — Meritor, Inc. (NYSE: MTOR) will host its Analyst Day event from 9 a.m. until noon ET Thursday, Feb. 5 at The St. Regis New York. Investment professionals who would like to attend the conference must register in advance as space is limited. To attend, please send an email to investor.relations@meritor.com by 5 p.m. ET Friday, Jan. 23. If you have already registered, no other action is necessary.

About Meritor Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor Announces ‘Shoes for Soldiers’ to Help Injured Veterans Build a Successful Future
  
Jan 27 2015

Company will Donate Up to $50,000 from Remanufactured Brake Shoe Sales and Corporate Matching Funds to Wyakin Warrior Foundation

 

LAS VEGAS (Jan. 27, 2015) Meritor, Inc. (NYSE: MTOR) today announced it is launching “Shoes for Soldiers” to help severely wounded, injured or ill veterans become leaders in business, government and their communities by contributing a percentage of its remanufactured brake shoe sales to the Wyakin Warrior Foundation.

 

Meritor will donate up to $50,000, which includes a $20,000 match from the Meritor Trust Fund, to the Boise, Idaho-based Wyakin Warrior Foundation. The foundation’s comprehensive program positions wounded veterans for personal and professional success. Current participants are pursuing degrees in many areas, including engineering, business, law, criminal justice, education and computer science.

 

“The need among wounded veterans is great, and we want to express our appreciation for the sacrifices they have made for all of us by joining with Wyakin to help them prepare for a successful future,” said Tim Bauer, director, Remanufacturing for Meritor.

 

More than 51,000 members of the armed forces have been seriously wounded or injured in combat since the 9/11 attacks on the World Trade Center, according to the Wyakin Warrior Foundation. Sixty percent of post-9/11 disabled veterans are unemployed or have dropped out of college.

 

The foundation’s 60-month program includes educational and financial support, monthly professional development seminars, community service projects and networking opportunities for job placement.

 

“A significant percentage of funds donated to the Wyakin program directly helps severely wounded or injured veterans  ̶  and that’s important, because the program cost for one participant is $25,000,” said Todd Monroe, executive director, Wyakin Warrior Foundation. “Our young veterans participating as Wyakin Warriors will benefit greatly from Meritor’s generous contribution as they position themselves for success in a meaningful career and within their communities.”

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Grows Wheel-End Offering with Three New Products
  
Jan 27 2015

LAS VEGAS (Jan. 27, 2015) Meritor Inc. (NYSE: MTOR) announced at Heavy Duty Aftermarket Week '15 (HDAW) that it is creating a one-stop resource for wheel-end solutions by adding three new products.

 

With the introduction of the Doctor Preload® Bearing Adjustment Tools, Temper-Loc® spindle nuts from Temper® and Meritor® hubcaps, Meritor continues to reinforce its leadership in wheel-end solutions by broadening its robust portfolio of products. Meritor began the expansion last year when it introduced Meritor AllFit™ and brake chambers from TSE Brakes®.

 

“Customers have asked for greater single-source availability of products,” said Aaron Bickford, director, Brake and Wheel End for Meritor. “They can now buy wheel-end products from us that cover all of their needs.”

 

Wheel-End Management System

Meritor and Temper Axle Products Corp. of Fonda, New York have partnered to offer Doctor Preload and Temper-Loc spindle nuts for quick preload, or “tight” bearing adjustments on a variety of steer, drive and trailer axles. Proper preload settings improve the life of tires, bearings, spindles and wheel seals and decreases ABS faults.

 

When used together, the Doctor Preload bearing adjustment tool and the Temper-Loc single-lock nut system help fleets meet the SAE J2535 optimal bearing setting of a light preload. Preload settings maintain a slight force on all rollers in tapered roller bearings to minimize vibration and angular movement in wheel-ends.

 

"Meritor’s solution with the Temper Axle products is a cost-effective alternative to preadjusted hubs now on the market, Bickford said. “The ability to set a proper preload is critical to reducing fleet operating expenses and vehicle downtime,” he added. “Fleets already using the system are finding it to be a valuable addition to their maintenance practices.”

 

Doctor Preload is easy to use and requires minimal training. Qualified technicians can set proper preload on each wheel-end bearing with reliable and repeatable processes in less than one minute. It is backed by millions of hours of precision-load cell testing and hundreds of thousands of road miles.

 

“We created the Doctor Preload tool and Temper-Loc nut system in response to the all-too-common loose bearing setting or slight endplay, which we found leads to premature tire wear,” said Ray Piascik, vice president of Sales and Marketing, Temper Axle Products Corp. “Improved tire mileage is a compelling benefit, especially when it can be achieved with minimal added effort.”

 

Doctor Preload tools are covered by a 1-year warranty while Temper-Loc nuts are covered by a 3-year warranty from the date of installation.

 

Genuine Meritor Hubcaps

A new line of Meritor hubcaps is now available as part of an expanding portfolio of wheel-end replacement products. The offering includes aluminum and clear poly hubcaps that meet the operating demands of most heavy-duty applications, said Pete Freeman, senior product manager, Wheel-Ends.

 

Meritor hubcaps are a direct replacement for many competitive models. The hubcaps are available in standard cast aluminum with or without side fill-plug, high-impact clear poly. They can also be purchased with or without a vented plug and high-impact clear poly for hub odometer applications. Each hubcap is packaged with a gasket or O-ring as required.

 

Meritor’s wheel-end component portfolio includes automatic and manual slack adjusters, standard and premium wheel seals, wheel bearings, hubs, drums, brake chambers, camshafts and new and remanufactured brake shoes. All wheel-end products are available through the Meritor Aftermarket distribution centers in Florence, Kentucky and Brampton, Ontario, Canada. To order, customers can visit meritorparts.com or call 888.725-9355.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries

Marty Hetherington

(248) 787-6978

martin.hetherington@meritor.com

                       

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Expands its Genuine and All-Makes Air Disc Brake Portfolios and Updates Catalogs
  
Jan 27 2015

LAS VEGAS (Jan. 27, 2015) Meritor Inc. (NYSE: MTOR) announced at Heavy Duty Aftermarket Week '15 (HDAW) the expansion of its aira disc brake (ADB) product line and introduced updated parts catalogs to support rising market demand.

 

The expansion includes more than 150 part numbers for genuine Meritor ADB systems, such as the ADB1560, DX and EX+ models and over 130 Meritor AllFit™ part numbers covering brakes made by other manufacturers.

 

“As more vehicles are equipped with air disc brakes, the need for replacement products continues to grow,” said Aaron Bickford, director, Brake and Wheel End for Meritor. “These additions to our genuine and all-makes portfolios create a dynamic supply of aftermarket parts and strengthen our aftermarket industry leadership.”

 

With customers demanding simple, reliable and comprehensive sourcing for their air disc brakes, Meritor’s expanded air disc brake portfolio supports the need for well-rounded solutions. Meritor’s EX+ aftermarket offering now includes more than 50 EX+ assemblies, such as calipers, kits and various wear items.

 

The new selection of AllFit™ product includes brake pads, calipers, rotors, brake chambers and service kits covering the most widely used North American air disc brake models.

 

A revised version of the EX+ catalog, PB-8857B, contains more product details to make the ordering process quick and simple. It includes a reference guide for wearable parts, a disc pad compatibility chart showing the pad geometry and FMSI numbers, expanded views showing style differences and family group for each caliper.

 

The AllFit air disc brake catalog, PB-1461, covers Meritor’s Dura-Master® and DX models, WABCO’s PAN series and other competitive models. The catalog includes key specification details such as the most popular Friction Material Standards Institute (FMSI) numbers, engineering drawings, dimensional data, competitive cross reference charts and expanded views.

 

“Our goal was to create tools to help make the specification and ordering process as easy as possible,” said Dennis Riedel, product manager, Aftermarket for Meritor. “These new air disc brake catalogs will be valuable resources for aftermarket customers.”

 

For more information about the AllFit and EX+ product offerings, visit Meritor’s online catalog and ordering system, meritorpartsonline.com. Both catalogs can be ordered through Literature on Demand on meritor.com.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries

Marty Hetherington

(248) 787-6978
martin.hetherington@meritor.com

                       

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor’s® New FUELite+™ and Super-Fast 2.28 Ratio for 14X Tandem Deliver Increased Fuel Economy through Downspeeding
  
Feb 16 2015

Axle Solutions Serve North America’s 6x4 and 6x2 Markets

 

NASHVILLE, Tenn. (Feb. 16, 2015) — Meritor® (NYSE: MTOR) is announcing the launch of the FUELite+™ 6x2 rear axle and the addition of a 2.28 super-fast ratio to its 14X 6x4 rear-drive tandem axle. Both products are designed to achieve better overall vehicle efficiency through lightweight, more efficient designs and faster axle ratios suited for downspeeding.

 

These products are being showcased at the Technology & Maintenance Council (TMC) 2015 Annual Meeting & Transportation Technology Exhibition in booth No. 910 from Feb. 16 through Feb. 19.

 

FUELite+ Offers Fast Ratios for 6x2 Market

 

FUELite+, one of three new products Meritor is launching at TMC, will be available to North America OEMs in March. The new axle offers fast ratios of 2.31 and 2.47 to the growing 6x2 market in North America. Additional ratio options will be available soon.

 

Manufactured with the latest technology, such as laser-welding to reduce weight and improve durability of components, FUELite+ delivers all the benefits of Meritor’s proven FUELite products. FUELite+ has the same suspension fit as the current FUELite platform and is compatible with T-type and industry-standard yokes. Features and benefits include:

 

·      Meritor’s DualTrac™ housing, which offers the option of running wide-based single or dual tires for enhanced efficiency and improved residual value;

·      Higher gross combination weight ratings up to 140,000 pounds;

·      Between 15 and 20 pounds of additional weight savings over the current FUELite;

·      Standard driver-controlled differential lock maximizes traction in unfavorable driving conditions.

FUELite+ also offers an application of automatic differential lock capability at higher speeds, which is a unique enabler for traction enhancement in the 6x2 segment. Integrating this automated feature into the OEMs’ electronic architecture will deliver ultimate traction control under adverse conditions and address improper activation and deactivation.

 

Super-Fast 2.28 Ratio for 14X Tandem

 

Meritor will offer the super-fast 2.28 ratio on the 14X platform in August 2015. The faster axle ratios built into FUELite+ and the new 14X 2.28 ratio can be integrated with Meritor’s recently launched RPL35 and RPL35SD drivelines to handle the high torques resulting from downspeeding.     

 

“With FUELite+ and the new super-fast ratio for our 14X portfolio, truck operators can achieve that fuel-economy ‘sweet spot’ through downspeeding,” said Karl Mayer, director, Product Strategy for Meritor. “While the 14X was designed to handle higher torques, Meritor fortified the already strong design by enlarging the pinion system to handle the extreme torque levels associated with downspeeding.”

 

Downspeeding employs direct-drive transmissions and fast axle gear ratios to maintain vehicle speed at lower engine rpms to enhance vehicle efficiency and improve mileage. “These Meritor products offer the industry comprehensive downspeeding solutions that enhance performance and efficiency for the 6x2 and 6x4 markets,” Mayer said. “By adding versatile new products and strengthening Meritor’s current offerings, our industry-leading solutions are helping OEMs better serve North America’s established 6x4 market and the trend toward 6x2-equipped vehicles.”

 

Both the 14X and FUELite+ carriers will also be available through Meritor’s normal aftermarket distribution channels.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Offers MTec6™, Industry’s Lightest Trailer Axle, at Technology Maintenance Council
  
Feb 16 2015

NASHVILLE, Tenn. (Feb. 16, 2015) — Meritor, Inc. (NYSE: MTOR) is announcing the MTec6™, the industry’s lightest trailer axle that offers greater weight savings and lower total cost of ownership. The six-inch, large-diameter axle will be showcased at the Technology & Maintenance Council (TMC) 2015 Annual Meeting & Transportation Technology Exhibition from Feb. 16 through Feb. 19.

 

“We applied Meritor’s advanced product development and manufacturing technologies, combined with a century of experience building axles, to develop the market’s lightest trailer axle,” said Martha Remski, general manager, Trailer for Meritor. “The MTec6 will save fuel, expand payload capacity and increase tire life.”

 

Meritor’s unique design experience and manufacturing processes allow for more efficient use of materials, resulting in an axle that is 36 pounds lighter than the industry-standard 5-inch axle. The lighter axle reduces gross trailer weight to enhance fuel economy and available payload. The MTec6’s greater stiffness reduces axle deflection to maintain neutral camber better than smaller-diameter axles, which helps reduce tire wear.

 

“Our MTec6 is designed to help fleets get the most from their van and refrigerated applications by achieving a higher level of efficiency and reduced maintenance costs,” Remski said. “Using our engineering expertise in axle design, we developed a larger-diameter axle with reduced wall thickness while improving basic physical properties, resulting in a lighter, high-strength product.”

 

Because the MTec6 utilizes less material, it is a greener, more environmentally friendly product. After completion of extensive lab testing and field validation, the MTec6 will be available later this year.

 

Meritor is showcasing the new trailer axle in booth No. 910.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor WABCO’s New Aftermarket Programming Tool Helps Reduce Commercial Vehicle Downtime
  
Feb 16 2015

NASHVILLE, Tenn. (Feb. 16, 2015) – Meritor WABCO is announcing a breakthrough programming tool that helps significantly shorten delivery times of replacement electronic control units (ECU) for antilock braking systems (ABS). The Aftermarket Programming Tool will be introduced at the Technology & Maintenance Council (TMC) 2015 Annual Meeting & Transportation Technology Exhibition.

 

Beginning this spring, service centers can use the tool to configure a new line of partially programmed control units to specific vehicle settings. In recent years, wait times have soared because customers can choose between more than 400 pneumatic ABS ECU variants in use today. Service centers generally do not stock all of these units.

 

“Technology like our new Aftermarket Programming Tool can significantly reduce the delivery time for the replacement of ECUs,” said Steve Hampson, president, Meritor WABCO. “This will help our customers reduce downtime and return their commercial vehicles to revenue-generating service sooner.”

 

The programming tool is being added to Meritor WABCO’s TOOLBOX™ diagnostic software package. Service centers will now be able to stock a small inventory of partially programmed control units and use TOOLBOX™ to quickly configure these parts for a wide variety of vehicles. Reduced inventory and less downtime will help fleets save costs and improve performance.

 

The interactive tool walks users through the steps necessary for fast programming right at the point of service to quickly get vehicles back on the road. Service centers can use the Aftermarket Programming Tool when replacing current Meritor WABCO pneumatic ABS and Stability Control ECUs. Meritor WABCO will expand use of the tool to future products, helping to reduce parts proliferation up to 90 percent, according to Hampson.

 

Aftermarket Programming Tool must be used with TOOLBOX 11.3 or higher and a purchased configuration file. TOOLBOX 11.3 will be available as a free upgrade to current TOOLBOX 11 users this spring.

 

Service centers can purchase Meritor WABCO’s programmable ABS ECUs through Meritor Aftermarket. Each unit will be shipped with instructions. The instructions, including a link to a video, will be available this spring on www.meritorwabco.com within the “Service & Support” heading.

 

About Meritor WABCO

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency components. These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading parent companies back Meritor WABCO, each with more than 100 year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides Meritor WABCO the industry’s most extensive service and support network; while WABCO Holdings, Inc. (NYSE:WBC), is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles, pioneering breakthrough electronic, mechanical and mechatronic technologies for braking, collision mitigation, stability control and transmission automation systems. For more information, visit www.meritorwabco.com.

 

CONTACT:

 

Bonnie Gibson

(248) 435-8706

bonnie.gibson@meritorwabco.com

Press ReleaseCompanyGlobal 
Meritor® Earns Top 20 Product Award from Heavy Duty Trucking Magazine for P600 Series Heavy-Haul Planetary Axles
  
Feb 17 2015

TROY, Mich.
(Feb. 17, 2015)
— Meritor, Inc. (NYSE: MTOR) earned Heavy Duty Trucking (HDT) magazine's 2015 Top 20 Product Award for its P600 Series Heavy-Haul Planetary Axles. The award honors the most innovative and significant new products that address industry issues and help fleets improve their bottom line, according to Deborah Lockridge, HDT editor.

The P600 Series axles, including the P610 and P614, are engineered for global heavy-haul, oil field, logging and mining applications and are available in tandem and tridem configurations. They are engineered and manufactured with ratings up to 42,000 pounds per axle. Both axles offer a choice of ratios to ensure the gearing, power and torque to do the job without sacrificing payload capacity or efficiency.

The winners were selected from hundreds of products and services covered in HDT or on Truckinginfo.com in 2014. The selection was made by HDT's editors, past HDT Truck Fleet Innovators and a panel of veteran fleet maintenance professionals from the American Trucking Associations' (ATA) Technology & Maintenance Council. All of the award recipients will be featured in HDT's February issue.

"Specialty customers need reliability in extreme conditions, and this award shows they can be confident in the quality and performance of Meritor products," said Tim Burns, vice president, Defense and Specialty, North America for Meritor. "We are proud these innovative products are being recognized by industry experts."

The award was presented to Meritor at the ATA's Technology & Maintenance Council 2015 Annual Meeting & Transportation Technology Exhibition on Feb. 17, 2015.

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor Announces Closure of Heath, Ohio Manufacturing Facility
  
Apr 14 2015

TROY, Mich. (April 14, 2015) — Meritor, Inc. (NYSE: MTOR) announced today that it will close its manufacturing facility in Heath, Ohio no later than Sept. 30, 2015. The move impacts approximately 40 hourly and salaried workers.
 
Operations at the Heath facility include beam machining; heat treat; manufacturing of housings, bevel gears, helical gears and shafts; and assembly for bus, coach, severe service and military vehicles.

 

“We are taking this action to improve cost competitiveness and align the company’s existing manufacturing footprint with the markets we serve,” said Wayne Watson, general manager, Operations, Americas for Meritor. He added that the decision is based on lower volumes in the company’s defense business. In addition, the specialty and severe service markets have been slow to recover from the 2009 recession and volumes remain well below pre-2009 levels.

 

Employees were notified earlier today about the decision and a Worker Adjustment and Retraining Notification Act (WARN) notice was issued to employees, the union and local government officials. It is anticipated that the operations and jobs will begin to phase out over the next three to six months.

 

Watson said Heath employees can be proud of their long history of producing quality defense and severe service products, beginning with the first components that rolled off the line in 1951 to support the Korean War.

 

About Meritor, Inc.

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, severe service, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of approximately 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's web site at meritor.com.

 

CONTACTS:


Media Inquiries
Nancy Sarpolis

(248) 435-1054

nancy.sarpolis@meritor.com  

 

Investor Inquiries
Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® Named Doleco USA Master Distributor
  
Apr 30 2015

FLORENCE, Ky. (April 30, 2015) — Meritor, Inc. (NYSE: MTOR) today announced a master distribution agreement with Doleco USA, Inc. to sell Doleco’s cargo restraint products for flatbeds and van trailers to North America warehouse distributors (WDs) and original equipment dealers, effective immediately.

 

“Doleco has had an excellent reputation for designing and building high-quality cargo restraint solutions since 1935,” said Aaron Bickford, director, Brake and Wheel-End, Aftermarket for Meritor™. “They do much more than just sell products; they offer customized solutions rather than strictly selling off-the-shelf parts – and this is what makes them a valuable partner.”

 

Doleco cargo restraints, which are offered through the Meritor and Euclid™ product lines, maintain Doleco branding. The new line initially includes more than 600 part numbers to meet customer demand, with more to be added in the future.

 

Bickford said Meritor was seeking a supplier to help better serve all customers, including those with non-conventional applications.  WDs have greater ordering flexibility because any Doleco product can be added to an existing stock order with no minimum dollar requirement. Smaller WDs, for example, that need only a small number of cargo straps can custom order these products and bundle them into their orders for other Meritor parts.

 

“Meritor, which has a strong industry presence, a vast distribution network and an experienced aftermarket salesforce, is the ideal resource for our shared customers,” said Ralph Abato, president and managing director, Doleco USA.

 

Doleco products will be available through Meritor’s distribution centers in Florence, Kentucky and in Edmonton, Alberta and Brampton, Ontario, Canada. To order, customers can visit meritorpartsonline.com or call 888-725-9355.

 

About Dolezych

Founded in 1935 in Dortmund, Germany, Dolezych is a leading manufacturer and supplier of lifting equipment, slings, ropes and load-securing technologies. Dolezych offers secure and reliable solutions for the lifting and transportation of goods – whether it’s on-site in production plants, on construction sites, or by transportation via road, rail, sea, and air cargo. In addition to its most recent expansion in the USA, Dolezych also has operations in Poland, Switzerland, China, Chile, Ukraine, Russia and Turkey with more than 600 employees worldwide. For more information, please visit: http://www.doleco-usa.com

 

About Doleco USA

Doleco USA, started operations in the United States in 2013 and is the first sales, distribution and manufacturing presence in North America for Dolezych, an 80-year-old, family owned, German-based manufacturer.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries

Marty Hetherington

(248) 787-6978
martin.hetherington@meritor.com

                       

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® to Host Webinars Highlighting Proper Application of Downspeeding
  
May 04 2015

Company to Showcase 6x4 and 6x2 Fuel-Efficiency Solutions at ACT Expo

 

TROY, Mich. (May 4, 2015)  Meritor, Inc. (NYSE: MTOR) is launching a series of webinars to update fleet and dealer customers on the correct application of downspeeding at the 2015 Alternative Clean Transportation (ACT) Expo May 4-7 in Dallas.

 

“Downspeeding, one of the integrated fuel-efficiency solutions we’ll showcase at ACT, is an effective way for fleets to reduce fuel costs and minimize the negative impact on the environment, but there can be unintended consequences if not applied correctly,” said Bob Ostrander, chief engineer, Driveline for Meritor. “We’ve spent the better part of almost two years conducting extensive testing and developing solutions. We’ve created these webinars to help fleets avoid damage and premature wear.”

 

The webinars explain the effect of downspeeding on drivetrain components when applied incorrectly and help participants better understand how to avoid damage. The current downspeeding trend employs fast rear drive axle ratios with direct drive transmissions to lower cruising speed rpm and decrease fuel consumption and greenhouse gas emissions.

 

Ostrander will share information on downspeeding based on multiple engineering tests and experiments in easy-to-understand live webinars.

 

Downspeeding is proving to be a fuel-saving solution for fleets. Every 100 rpm decrease in cruising speed translates to 1 percent fuel economy improvement, Ostrander said.

 

Meritor’s downspeeding-ready axles and high-torque-rated drivelines ensure even transfer of torque throughout the drivetrain. Fast axle ratios on the 14X™, FUELite™ and FUELite+™ can integrate with the RPL35 and RPL35SD drivelines, which are designed to handle high torques resulting from downspeeding.

 

Meritor will showcase its market-leading 14X 6x4 rear axle platform, which was recently equipped with the super-fast 2.28 ratio; FUELite and FUELite+ 6x2 high efficiency rear axles; and RPL35 Series high-torque-rated drivelines. These products are combined with direct drive transmissions to achieve downspeeding. Meritor also offers solutions to fit the close-coupled overdrive transmission combinations with a wide range of ratios for 6x4 and 6x2 applications.

 

Fleets can register for the webinars at Meritor booth No. 1435 or at meritordownspeeding.com.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor ChampTruck World Series® Brings Thrill of Big Rig Racing to Willows Thunderhill Raceway Park
  
May 22 2015

WILLOWS, California, May 22, 2015 – Race fans at the Thunderhill Raceway Park will experience the thrill of big rig racing beginning today when drivers rev their engines at the Meritor ChampTruck World Series®.

The three-day series at Thunderhill is the second event in the Meritor ChampTruck World Series, which is bringing semi truck racing back to the United States after a 22-year absence. Mike Morgan of Nashville, Tennessee won the inaugural Meritor ChampTruck event April 26 at New Jersey Motorsports Park in Millville, New Jersey.

"For the first time since 1993, American racing fans are experiencing the fun of watching Class 8 heavy-duty trucks compete in three days of exciting events," said Craig Frohock, vice president, Aftermarket, North America for Meritor. "These races are fan-friendly and family-affordable with access to the trucks, the drivers and teams."

Gates open at 8 a.m. each day, with practice events taking place throughout the day. Warm-ups, qualifying events and autograph sessions are set for Saturday. Races continue on Sunday with a podium race at 3:10 p.m. and awards ceremony at 4 p.m.

Admission is $20 per person each day or $30 for the weekend. Ticket price includes full pit and paddock access for all events as well as the ChumpCar, ChampTruck and Pride & Polish Truck Show and a concert Saturday evening. For more information, visit the Thunderhill Raceway Park website.

Meritor is executive title sponsor of the Meritor ChampTruck World Series for the 2015 season. Ten events conclude with the 2015 Meritor ChampTruck Series National Championship at Las Vegas Motor Speedway Oct. 30 through Nov. 1. Drivers earn and accumulate points for the national championship event. Any conventional or cab-over truck that's at least 5 years old can race in the Meritor ChampTruck World Series events throughout the country.

The next regular season race is at Pikes Peak International Raceway in Colorado Springs, Colorado from May 29 through May 31.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor to Present at KeyBanc Capital Markets 2015 Industrial, Automotive & Transportation Conference
  
May 27 2015

TROY, Michigan (May 27, 2015) — Meritor, Inc. (NYSE: MTOR) will participate in the KeyBanc Capital Markets 2015 Industrial, Automotive & Transportation Conference on Thursday, May 28 in Boston. Kevin Nowlan, senior vice president and chief financial officer for Meritor, will present at
11 a.m. ET.

A live webcast of the presentation will be available on the Investors page of meritor.com. An audio replay will be available for 30 days following the presentation. The accompanying slide deck will be available on the Presentations section of the Investors page.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor ChampTruck World Series® Brings Thrill of Big Rig Racing to Pikes Peak International Raceway
  
May 27 2015

FOUNTAIN, Colorado (May 27, 2015) – The thrill of big rig racing returns to Colorado Friday when drivers at the Pikes Peak International Raceway rev their engines for the Meritor ChampTruck World Series®.

The three-day series at Pikes Peak is the third event in the Meritor ChampTruck World Series which is bringing semi truck racing back to the United States after a 22-year absence.

"For the first time since 1993, American racing fans are experiencing the fun of watching Class 8 heavy-duty trucks compete in three days of exciting events," said John Nelligan, vice president, Sales & Service, North America for Meritor. "These races are fan-friendly and family affordable with access to the trucks, the drivers and teams."

Gates open at 9 a.m. on Friday, with Meritor ChampTruck practice events taking place throughout the day. On Saturday, gates open at 7 a.m. for a full day of events, including truck and sports car sprint racing. Historic Indy 500 race cars will also take to the track for exhibition racing. Sunday racing events conclude with an awards ceremony at 5:15 p.m.

Admission is $20 per person each day or $30 for the weekend. Ticket price includes full pit and paddock access for all events as well as open grandstand seating. For more information, visit the ChampTruck website.

Meritor, Inc. is executive title sponsor of the Meritor ChampTruck World Series for the 2015 season. Ten events conclude with the 2015 Meritor ChampTruck Series National Championship at Las Vegas Motor Speedway Oct. 30 through Nov. 1. Drivers earn and accumulate points for the national championship event. Any conventional or cab-over truck that's at least 5 years old can race in the Meritor ChampTruck World Series events throughout the country.

The next regular season race is at Charlotte Motor Speedway in Concord, North Carolina from July 2 through July 4.

An overview of the Meritor ChampTruck World Series, including interviews with drivers and the Meritor DriveForce™ team, is available on the Meritor YouTube channel.

About Meritor

Meritor, Inc. (NYSE: MTOR) is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Awards Gareth Cantle with 2014 Lifetime Achievement Award for Manufacturing Engineering
  
May 28 2015

TROY, Mich. (May 28, 2015) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently honored Gareth Cantle with its 2014 Lifetime Achievement Award for Manufacturing Engineering.

Cantle, manufacturing engineer, received the award for numerous contributions to air disc brake manufacturing and for his role as the architect of Meritor's modern assembly processes. His accomplishments include launching the assembly of Meritor's ELSA®-branded modern air disc brakes, introducing robotic assembly and automatic packaging machinery to the company's Cwmbran, United Kingdom facility and establishing Meritor's air disc brake assembly in China. Cantle also is responsible for introducing semi-automatic air disc brake assembly and a next-generation hybrid air disc brake assembly for a faster, leaner and more cost-effective solution.

"This award reflects Gareth's many contributions to brake manufacturing over the past 43 years and his status as the 'architect' of Meritor's modern air disc brake assembly process," said Joe Plomin, president, International for Meritor. "His innovation and in-depth knowledge of products and manufacturing processes have resulted in world-class quality levels and significant savings. In addition, his work on a new semi-automatic line will greatly benefit Meritor's customers as we strive to deliver the highest-quality products."

"Gareth's strong product and process expertise, combined with his open and innovative approach, has resulted in significant savings in our manufacturing process systems and established Meritor as a world leader in delivering quality products to customers," said Chris Villavarayan, president, Americas for Meritor. "He always has time to explain, continuously innovates and has a great work ethic."

As a recipient of the award, the Meritor Trust Fund will make a charitable contribution of $1,500 on Cantle's behalf to the Newport & District Group Training Association, which manages apprentice training programs in partnership with engineering and manufacturing companies.

Cantle earned his qualifications in mechanical engineering for technicians in 1976 from Alt-yr-yn College, Newport South Wales, United Kingdom. He retired in April after 43 years at Meritor. He lives in Cwmbran, South Wales, United Kingdom.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Awards Tomaz Varela with 2014 Lifetime Achievement Award for Product Engineering
  
May 28 2015

TROY, Mich. (May 28, 2015) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently honored Tomaz Varela with its 2014 Lifetime Achievement Award for Product Engineering.

Varela, chief engineer for Meritor's business in China, received the award for leading numerous development projects for specialty and off-highway axles, brakes and wet-disc brakes. Varela, a member of Meritor's Intellectual Product Committee, has registered nearly 40 patents in the past 20 years. He has led development teams for several products, including a family of axles for cranes in China, new fabricated housing design architecture for off-highway axles and new heavy-duty hub reduction axle for port terminal tractors. He currently leads Meritor's off-highway engineering team in China.

"Tomaz has shown outstanding engineering leadership throughout his 35-year career at Meritor," said Joe ElBehairy, vice president, Engineering, Quality and Product Strategy. "Tomaz' involvement on numerous development projects for specialty and off-highway axles, brakes and wet-disc brakes has been outstanding, and his leadership of our off-highway engineering team in China is helping to meet the needs of that diverse market."

As a recipient of the award, the Meritor Trust Fund will make a charitable contribution of $1,500 on Varela's behalf to his alma mater, Escola Politecnica, University of Sao Paulo, Brazil.

Varela, who joined Meritor as a manufacturing engineer in Brazil in 1980, moved to Product Engineering in 1982 and he relocated to the United States in 1993.

Varela currently lives in Xuzhou, China. He earned his bachelor's degree in mechanical engineering from Escola Politecnica in 1979.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Names Jay Beeler 2014 Manufacturing Engineer of the Year
  
May 28 2015

TROY, Mich. (May 28, 2015) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently named Jay Beeler the company's 2014 Manufacturing Engineer of the Year.

Beeler, manufacturing engineer for Meritor's Morristown, Tennessee facility, earned the award for development work on the relaunch of the company's 14X near net program as well as milling technology and forging simulation processes that improved the plant's manufacturing capabilities. His solutions have helped the company manufacture its products more efficiently and reduce die manufacturing cycle times by 80 percent.

"Jay's excellent work is helping Meritor meet its goal of improving operational excellence," said Chris Villavarayan, president, Americas for Meritor. "Jay has developed creative solutions that save time and allow all of us to keep our focus on key areas such as die design. As a result, we are delivering quality products that meet our customers' needs."

As a recipient of the award, the Meritor Trust Fund will make a charitable contribution of $1,500 to the L&N STEM Academy of Knoxville, a magnet high school in the Knox County, Tennessee school system that is dedicated to teaching science, technology, engineering and math.

Beeler, a 21-year Meritor employee, lives in Strawberry Plains, Tennessee.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Names Pedro Garcia 2014 Product Engineer of the Year
  
May 28 2015

TROY, Mich. (May 28, 2015) — Meritor, Inc. (NYSE: MTOR), a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, recently named Pedro Garcia the company's 2014 Product Engineer of the Year.

Garcia, project engineer for Meritor, earned the award for his distinguished leadership in the design and development of Meritor's carriers for trucks and off-highway applications. His design and development work includes the 13X medium-duty carrier and several other drive axle carriers, such as the 18 Series carrier for the China market and design variations of the 14X and 160 carriers. He is a recognized leader in continuously championing Meritor's improvement of design, development and documentation processes.

"Pedro's innovative solutions set him apart from his peers and gives Meritor a competitive advantage," said Joe ElBehairy, vice president, Engineering, Quality and Product Strategy. "As lead engineer on several carrier design projects, his work has introduced new design methodologies that are cost efficient and critical to the company as we continue to work toward delivering the highest-quality products to customers."

As a recipient of the award, the Meritor Trust Fund will make a charitable contribution of $1,500 on Garcia's behalf to Universidad del Norte in Colombia.

Garcia lives in Clarkston, Michigan. He earned his bachelor of science degree in mechanical engineering from Universidad del Norte in Barranquilla Colombia and a master of science degree in manufacturing systems from Tecnológico de Monterrey in Mexico.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor  Adds Dedicated Customer Support to Drivetrain Direct Program
  
Jun 08 2015

FLORENCE, Kentucky (June 8, 2015) — Meritor, Inc. (NYSE: MTOR) announced it is expanding support for aftermarket differential and transmission component rebuilders enrolled in its Drivetrain Direct program by offering more personalized service and quicker response from a single point of contact.

"Each member of the Drivetrain Direct Support Team will build a commercial relationship with rebuilders and know their history and business needs," said Tim Burns, product manager, Drivetrain, Aftermarket for Meritor. "Component rebuilders have unique needs because they are rebuilding systems rather than providing off-the-shelf parts or products to end users. Their honest feedback on how the program can better serve them prompted the addition of this dedicated support team."

In addition to responding quickly to rebuilders about stock availability, order status, fulfillment of quotation requests and confirmation of part number supersessions, the team will work to ensure on-time shipments by expediting service when necessary. Unlike a traditional customer service call center, the Drivetrain Direct team will place outbound calls to advise rebuilders of shipment dates and to resolve other issues affecting orders. The team will also actively solicit feedback from rebuilders on improving service.

Drivetrain Direct Support Team members are experienced Meritor Aftermarket Customer Care team members who are well-versed in customer service. "This dedicated support team is one more level of Meritor's commitment to the Drivetrain Direct program," Burns said. "As the program continues to grow, so, too, will our support and services to our rebuilder customers."

The Drivetrain Direct program was launched in 2013 to provide timely parts sourcing and delivery to differential and transmission rebuilders in the United States and Canada. More than 80 rebuilders have joined the program.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Announces Offering of $225 Million of Senior Unsecured Notes
  
Jun 08 2015

TROY, Mich. (June 8, 2015) – Meritor, Inc. (NYSE: MTOR) today announced that it is offering, subject to market and other conditions, an additional $225 million aggregate principal amount of its existing series of 6-1/4% notes due 2024 in an underwritten registered public offering.

Meritor expects to use the net proceeds from the offering to fund the purchase of an annuity to satisfy its obligations under a German pension plan for its employees and to replenish cash on hand used to repurchase approximately $78 million aggregate principal amount of its 7.875% convertible senior notes due 2026 and for general corporate purposes, including if the annuity is not purchased.

BofA Merrill Lynch, J.P. Morgan, Citigroup, RBC Capital Markets, Lloyds Securities and BNP PARIBAS are acting as joint book-running managers for the offering.

This press release is not an offer to sell and is not soliciting an offer to buy any of the notes, nor shall there be any offer or sale of the notes in any jurisdiction where the offer or sale is not permitted. An effective shelf registration statement related to the notes has previously been filed by Meritor with the Securities and Exchange Commission. The offering of notes is being made by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus can be obtained from:

BofA Merrill Lynch
222 Broadway
New York, New York 10038
Attention: Prospectus Department
E-mail: dg.prospectus_requests@baml.com
Telephone: 1-800-294-1322

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1- 866-803-9204

Citigroup, c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Attn: Prospectus Department
Telephone: 1-800-831-9146

RBC Capital Markets, LLC Three World Financial Center
200 Vesey Street, 10th Floor
New York, New York 10281
Attn: High Yield Capital Markets
Telephone: 1-877-280-1299

Lloyds Securities Inc.
1095 Avenue of the Americas
New York, New York 10036
Attn: Fixed Income
Email: FixedIncomeDesk@lbusa.com
Telephone: 1-212-930-5000
Fax: 1-212-479-2882

BNP Paribas Securities Corp.
787 7th Avenue
New York, New York 10019
Attn: Syndicate Desk
Telephone: 1-800-854-5674

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor WABCO Endorses NTSB Recommendations on Installation of Collision Avoidance Systems as Standard Equipment
  
Jun 08 2015

Proven performance of market-leading OnGuard™ collision mitigation system is consistent with study conclusions

 

TROY, Mich. (June 8, 2015) – Meritor WABCO today announced its support of the recommendation by the National Transportation Safety Board (NTSB) concerning the adoption of forward collision warning and autonomous emergency braking systems.

 

In a report published today, NTSB has made a number of recommendations to help address road safety, such as requiring vehicle manufacturers to install forward collision avoidance systems as standard equipment on all new vehicles. The NTSB also recommends the installation of autonomous emergency braking systems following the publication of performance standards for such equipment by the National Highway Traffic Safety Administration (NHTSA).

 

“The recommendations in today’s report are positively aligned with Meritor WABCO’s mission to improve road safety for everyone,” said Stephen Hampson, president and general manager, Meritor WABCO. “The proven performance of OnGuard™ collision mitigation systems since 2007 supports the NTSB report’s conclusions.”

 

Data that support the recommendation for broader adoption of forward collision warning and autonomous emergency braking systems include:

 

·   In 2013, there were 327,000 large truck crashes with 3,541 involving fatalities in the United States, according to the Federal Motor Carrier Safety Association (FMCA).

·   In recently released data, FMCA estimates these fatal collisions resulted in approximately $42 billion in total costs during 2013.

·   Reports from Meritor WABCO’s Fleet Advisory Council indicate that installation of OnGuard can reduce the number of rear-end collisions by as much as 87 percent.

 

A NHTSA study by the University of Michigan Transportation Research Institute released in 2013 found that 20 percent of rear-end collisions involve stationary objects and 17 percent are in low-visibility conditions where robust and rapid system reaction is the most critical.

 

Meritor WABCO currently supplies OnGuard, the leading collision mitigation system for commercial vehicles in North America. With more than 80,000 units installed, 27 billion road miles of service and a reorder rate of virtually 100 percent, fleets are increasingly welcoming this system’s contribution to improved road safety and operating efficiency.

 

Meritor WABCO recently announced OnGuardACTIVE™, its most advanced, all-season collision mitigation system for trucks and buses in North America. OnGuardACTIVE provides superior performance in poor visibility situations such as whiteouts, heavy rain, dense fog, blinding sunshine or nightime driving. The collision mitigation system alerts the driver to potentially critical driving situations via acoustic, visual and haptic signals. If the vehicle operator fails to take corrective action, OnGuardACTIVE delivers active braking to mitigate or prevent impending rear-end collisions with moving, stopping and stationary vehicles.

 

Today’s NTSB report reiterated the organization’s earlier recommendation to NHTSA to develop stability control system performance standards for all commercial motor vehicles and buses with a gross vehicle weight rating greater than 10,000 pounds, regardless of whether the vehicles are equipped with a hydraulic or a pneumatic brake system.

 

The full NTSB report is available at http://ntsb.gov/safety/safety-studies/Pages/SIR1501.aspx.

 

About Meritor WABCO

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency components. These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading parent companies back Meritor WABCO, each with more than 100-year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides Meritor WABCO the industry’s most extensive service and support network; while WABCO Holdings, Inc. (NYSE:WBC), is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles, pioneering breakthrough electronic, mechanical and mechatronic technologies for braking, collision mitigation, stability control and transmission automation systems. For more information, visit www.meritorwabco.com.

 

 

CONTACT:

 

Bonnie Gibson

(248) 435-8706

bonnie.gibson@meritorwabco.com

 

Press ReleaseCompanyGlobal 
Meritor WABCO Endorses NHTSA Mandate of Electronic Stability Control Systems on Commercial Trucks
  
Jun 09 2015

Ruling anticipated to prevent up to 1,759 crashes, 649 injuries and 49 fatalities each year

 

TROY, Mich. (June 9, 2015) – Meritor WABCO today announced its support of the National Highway Traffic Safety Administration’s (NHTSA) final rule issued on June 3 requiring electronic stability control (ESC) systems on truck tractors and large buses.

 

“We fully endorse NHTSA’s action, which will ultimately make our country’s highways a safer place for all of us,” said Stephen Hampson, president and general manager for Meritor WABCO. “In its ruling, NHTSA referred to electronic stability control as a remarkable safety success story, and our customers’ experiences entirely support that view. ESC helps save lives and reduce injuries and accident-related costs.”

 

According to the Federal Motor Carrier Safety Administration:

 

·      Rollovers are the fourth most frequent cause of fatal accidents involving large trucks.

·      There were 8,136 heavy truck rollover accidents in 2013, or an average of 22 rollovers each day.

 

NHTSA is projecting that its new ruling will prevent as many as 1,759 crashes, 649 injuries and 49 fatalities each year, providing the trucking industry with annual net economic benefits of more than $300 million on a $45 million investment by fleet owners to comply with the ruling.

 

A recognized pioneer in delivering advanced safety systems, Meritor WABCO was first to market with its SmartTracTM stability control system in 2003. Today, 262,000 vehicles in more than 220 fleets are equipped with SmartTrac technology. Commercial vehicle fleets equipped with SmartTrac report a reduction of rollover and loss-of-control accidents by up to 60 percent.

 

About Meritor WABCO

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency components. These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading parent companies back Meritor WABCO, each with more than 100-year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides Meritor WABCO the industry’s most extensive service and support network; while WABCO Holdings, Inc. (NYSE:WBC), is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles, pioneering breakthrough electronic, mechanical and mechatronic technologies for braking, collision mitigation, stability control and transmission automation systems. For more information, visit www.meritorwabco.com.

 


CONTACT:

 

Bonnie Gibson

(248) 435-8706

bonnie.gibson@meritorwabco.com

 

Press ReleaseCompanyGlobal 
Meritor Donates $50,000 to Wyakin Warrior Foundation
  
Jun 15 2015

"Shoes for Soldiers" Raises Money to Help Severely Injured Veterans

TROY, Mich. (June 15, 2015) – Staff Sgt. George Nickel of the U.S. Army Reserve's 321st Engineer Battalion was in a Mine-Resistant Ambush Protected (MRAP) vehicle with three other soldiers clearing the route to a downed helicopter in central Iraq when they ran over a 500-pound insurgent bomb. Only Nickel survived the February 2007 explosion, and he spent months recovering from traumatic brain injury and eight serious fractures.

Meritor, Inc. (NYSE: MTOR), which has a 100-year tradition of supporting the U.S. military, is partnering with the Boise, Idaho-based Wyakin Warrior Foundation to help Nickel and other severely wounded veterans achieve professional and personal success. Meritor announced today it made a $50,000 contribution to the foundation, which mentors and gives financial assistance to veterans who are pursuing degrees in many areas, including engineering, business, law, criminal justice, education and computer science.

In January, Meritor launched its "Shoes for Soldiers" campaign, which earmarked a percentage of its remanufactured brake shoe sales to the Wyakin Warrior Foundation. Meritor's $50,000 contribution includes a $20,000 match from the Meritor Trust Fund.

"It's important to assist wounded veterans who have the motivation but lack the education and training to become leaders in business, government and community," said Tim Bauer, director, Remanufacturing for Meritor. "These men and women have made tremendous sacrifices for us, and they've earned the kind of developmental assistance Wyakin offers."

Meritor's contribution will provide funding to Wyakin Warriors for additional veterans. The cost of the 60-month Wyakin Warrior program is $25,000 per veteran.

"Meritor has a long history of supporting the U.S. military, and we designed 'Shoes for Soldiers' to help the Wyakin Warrior Foundation fulfill its mission of positioning severely wounded veterans for success," said Krista Sohm, vice president, Marketing & Communications for Meritor, Inc.

Participants in the Wyakin Warrior program receive educational and financial support, attend monthly professional development seminars, build job skills and a professional network and successfully complete a certification or degree, culminating in job placement in a meaningful career.

"We're so grateful to Meritor for this contribution," said Roy Ledesma, director of operations, Wyakin Warrior Foundation. "It's definitely going to impact these warriors in a positive way by assisting them in their transition from the battlefield to successful careers. It'll have a direct impact on the lives of these heroes and their families."

Ledesma said more than 52,000 military service personnel have been injured since the 9/11 attacks on Washington, D.C. and New York City. Now in its fifth year, the foundation focuses on the most severely injured or ill who face the greatest challenges in building a successful civilian life. Twenty-six veterans are supported by the Wyakin Warrior program. A "wyakin," according to Native American legend, is a spiritual guide who advises and protects a person throughout life.

In Nickel's case, help came just in time. Unable to return to military service or his civilian job as an Idaho state prison corrections officer, he began to drink heavily and served eight months in jail and almost a year in rehab.

"It was a really bad time, not being able to resume my 20-year career in the Army and losing my civilian job," the 44-year-old Boise, Idaho resident said. "I really had to turn things around and get the kind of guidance I needed to function in the civilian sector."

Nickel has earned a bachelor's degree in psychology and will complete his master's degree next year. He now works as Wyakin Warriors' director of Student and Veteran Affairs and plans to become a clinical social worker who helps arrange resources for veterans facing crises so they don't suffer the legal setbacks as he did.

"Wyakin Warriors really helped make all of this possible by focusing me and pointing me in the right direction so I can achieve these goals," Nickel said. "They don't take a cookie-cutter approach to making people successful, and I wasn't just another case number. The entire program is very individualized to suit the unique needs of each Wyakin Warrior."

Images

Caption: Employees at Meritor's Plainfield, Illinois site present a check for $30,000 raised in the "Shoes for Soldiers" campaign, which earmarked a percentage of its remanufactured brake shoe sales to the Wyakin Warrior Foundation. The Meritor Trust Fund added $20,000 in support of the foundation, which helps severely wounded veterans achieve professional and personal success.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Mourns the Passing of Former Board Member David W. Devonshire
  
Jun 29 2015

TROY, Mich. (June 29, 2015)  Meritor, Inc. (NYSE: MTOR), regretfully announces the passing of David Devonshire who died on June 25 at the age of 70. Devonshire served on Meritor’s board of directors since 2004 and was the presiding director from 2013 to 2015. He was the chair of the Audit Committee and a member of the Compensation and Management Development Committee. Devonshire resigned in May 2015 due to health reasons.

 

“David was a respected Meritor board member for more than a decade,” said Ike Evans, executive chairman, Meritor. “He offered excellent counsel and strategic direction to the company during his tenure. Our condolences go out to David’s family during this difficult time.”

 

Devonshire served as Executive Vice President and Chief Financial Officer at Motorola until his retirement in 2007. Prior to that, he held executive positions with Ingersoll-Rand Company, Owens Corning, Inc., Honeywell and others spanning a 40-year career in finance and accounting.

 

Meritor will make a contribution to The Kellogg School of Management at Northwestern University in Devonshire’s name.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor ChampTruck World Series® Brings Thrill of Big Rig Racing to Charlotte Motor Speedway
  
Jul 01 2015

CONCORD, N.C. (July 1, 2015) – Drivers will rev their engines for a Fourth of July weekend of heavy-duty truck racing when the Charlotte Motor Speedway hosts the Meritor ChampTruck World Series®.

 

“We’re bringing the thrill of semi-truck racing back to the United States for the first time since 1993,” said James Taylor, general manager, North America Field Operations for Meritor. “ChampTruck races are family affordable and fan-friendly. People have access to the trucks, drivers and teams, so there’s plenty of excitement for everyone.”

 

The two days of racing at Charlotte Motor Speedway is the fourth event in the Meritor ChampTruck World Series. Gates open at 8 a.m. on Friday and Saturday. Friday’s activities include two Meritor ChampTruck practice sessions, a qualifying session and two heat races.

 

On Saturday, race fans will enjoy three more heat races and the all-important podium race at 9 p.m. In addition to the Meritor ChampTruck races, supporting events will include sports car and stock car racing on Charlotte Motor Speedway’s new ROVAL track, combining the world-famous 1.5-mile oval with a new 1-mile road course. Saturday events also include a free performance by country-rock band “Outlaw 21” and the Meritor ChampTruck awards ceremony.

 

“We’re really excited to have 23-time NASCAR winner Larry McReynolds joining us at Charlotte,” said John Condren, ChampTruck CEO. “Larry will be in the driving seat of the No. 11 Optima Batteries Freightliner Columbia rather than sitting in the TV commentator’s seat for Fox Sports’ NASCAR coverage.”

 

Admission is $20 per person each day or $30 for a two-day weekend ticket that includes full pit and paddock access. For more information, visit the ChampTruck website.

 

Meritor, Inc. is the executive title sponsor of the Meritor ChampTruck World Series for the 2015 season. The 10-event series will conclude with the 2015 Meritor ChampTruck Series National Championship at Las Vegas Motor Speedway, Oct. 30 through Nov. 1. Drivers earn and accumulate points for the national championship event.

 

British truck racing champion Stuart Oliver finished first in the Podium Race in the third Meritor ChampTruck World Series Race, held at Pikes Peak International Raceway on May 31 in Fountain, Colorado. The next regular season race is scheduled for Gateway Motorsports Park in Madison, Illinois, July 17 through July 19.

 

An overview of the Meritor ChampTruck World Series, including interviews with drivers and the Meritor DriveForce™ team, is available at http://youtu.be/NrlvnY-MDm4. 

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

 

Press ReleaseCompanyGlobal 
Meritor Hosts Conference Call and Webcast to Present Fiscal Year 2015 Third-Quarter Earnings
  
Jul 06 2015

TROY, Mich. (July 6, 2015)  Meritor, Inc. (MTOR) will host a conference call and webcast to discuss the company's third-quarter results for fiscal year 2015 on Wednesday, July 29, 2015, at 9 a.m. ET.

 

To participate, call 617-213-4865, 10 minutes prior to the start of the call. Please reference passcode 82851508 when registering. Investors can also listen to the conference call in real time or access a recording of the call for seven days after the event by visiting the investors page on meritor.com.

 

A replay of the call will be available starting at 1 p.m. ET on July 29, until 11:59 p.m. ET on Aug. 5, by calling (888) 286-8010 (within the United States) or (617) 801-6888 for international calls. Please refer to replay passcode 12130332. To access the listen-only audio webcast, visit meritor.com and select the webcast link from the home page or the investor page.

 

The company's third-quarter financial results for fiscal year 2015 will be released prior to the conference call and webcast on July 29. The release will be distributed through PR Newswire and posted on meritor.com.

 

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

 

Press ReleaseCompanyGlobal 
Meritor ChampTruck World Series® Brings Thrill of Big Rig Racing to Gateway Motorsports Park
  
Jul 15 2015

MADISON, Illinois (July 15, 2015) – Drivers will rev their engines for an exciting weekend of heavy-duty truck racing when the Gateway Motorsports Park hosts the Meritor ChampTruck World Series®.

 

“We’re bringing the thrill of semi-truck racing back to the United States for the first time since 1993,” said Mark Kollasch, director of Field Sales for Meritor. “The Meritor ChampTruck race at Gateway Motorsports Park is free and fan-friendly. People have access to the trucks, drivers and teams, so there’s plenty of excitement for everyone.”

 

The two-day race this weekend in Madison is the fifth event in the Meritor ChampTruck World Series. Admission to the Gateway is free and includes full pit and paddock access for all events as well as open grandstand seating. Gates open to the public at 8 a.m. on Saturday, with Meritor ChampTruck practice, qualifying and racing events taking place throughout the day. In addition, a Meritor ChampTruck driver autograph session is scheduled for 2:45 p.m. Saturday. On Sunday, a full day of activities includes a second autograph session at 11:30 a.m., two heat races and the podium race at 2:45 p.m. An awards ceremony will close out the event. For more information, visit the ChampTruck website at http://www.champtruck.us.com.

 

Meritor, Inc. is executive title sponsor of the Meritor ChampTruck World Series for the 2015 season. Nine events conclude with the 2015 Meritor ChampTruck Series National Championship at Las Vegas Motor Speedway Oct. 30 through Nov. 1. Drivers earn and accumulate points for the national championship event. Any conventional or cab-over truck that’s at least 5 years old can race in the Meritor ChampTruck World Series events throughout the country.

 

Ricky Rude, driving a 1995 Peterbilt 378, finished first in the podium race in the fourth Meritor ChampTruck World Series Race at Charlotte (N.C.) Motor Speedway on July 4. The next regular season race is at Virginia International Raceway in Alton, Virginia from Aug. 6 through Aug. 9.

 

An overview of the Meritor ChampTruck World Series, including interviews with drivers and the Meritor DriveForce™ team, is available at http://youtu.be/NrlvnY-MDm4  and http://vimeopro.com/user17218163/bumper-rea-big-trucks#/video/132228776.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor WABCO Receives 2014 Excellence in Quality Award from Hino Motors Manufacturing U.S.A., Inc.
  
Jul 21 2015

Meritor WABCO Delivers Top Quality Performance of Zero Defects Per 1 Million Parts Produced and Maintains 100 Percent On-Time Delivery

 

TROY, Mich. (July 21, 2015) – Meritor WABCO received the 2014 Excellence in Quality Award from Hino Motors Manufacturing U.S.A., Inc. Meritor WABCO has been recognized with this prestigious award five times in the past seven years.

 

Meritor WABCO received the award in recognition of achieving a perfect zero parts per million (PPM) defect rate during the entire 2014 calendar year. Meritor WABCO supplies Hino with pneumatic and hydraulic anti-lock braking systems (ABS) for commercial vehicles built in Williamston, West Virginia and Woodstock, Ontario, Canada. In addition to the zero PPM quality performance for Hino, Meritor WABCO’s on-time delivery performance was 100 percent for 2014.

 

“Hino has established a strong reputation for rigorous quality standards, and this award recognizes our commitment to go above and beyond for our customer,” said Stephen Hampson, president and general manager for Meritor WABCO. “With our focus on Six Sigma and continuous quality improvement, we are looking to sustain our perfect quality score and 100 percent on-time deliveries.”

 

The award was presented to Meritor WABCO at the recent Hino 2015 Annual Business Meeting in Plymouth, Michigan.

 

About Hino

Hino Trucks, a Toyota Group Company, assembles, sells, and services Class 4-7 conventional commercial trucks in the United States. The headquarters is located in Novi, Michigan and boasts a network of over 180 dealers nationwide committed to achieving excellence in customer service and support. Hino Trucks is the premier medium duty nameplate in the United States with a product lineup that offers the lowest total cost of ownership, superior fuel economy, industry-leading environmental friendliness, unmatched reliability and maneuverability, and the most comprehensive bundle of standard features in the market. For more information, visit our internet home page at www.hino.com or follow us on Facebook, Twitter and YouTube. Hino Motors Manufacturing U.S.A., Inc., a Toyota Group Company, assembles Class 6 & 7 Hino brand trucks in West Virginia, and builds axles and other components for certain Toyota vehicles in Arkansas and California.

 

About Meritor WABCO

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency components. These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading parent companies back Meritor WABCO, each with more than 100 year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides Meritor WABCO the industry’s most extensive service and support network. WABCO Holdings Inc. (NYSE:WBC) is a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles. WABCO continues to pioneer breakthrough products and systems for braking, stability, suspension, and transmission automation. For more information, visit www.meritorwabco.com.

 

CONTACT:

 

Bonnie Gibson

(248) 435-8706

bonnie.gibson@meritorwabco.com

 

Press ReleaseCompanyGlobal 
Meritor Reports Third-Quarter Fiscal Year 2015 Results - Adjusted EBITDA Margin Up 120 Basis Points Year-Over-Year to 9.6 Percent
  
Jul 29 2015

TROY, Mich. (July 29, 2015) — Meritor, Inc. (NYSE: MTOR) today reported financial results for its third fiscal quarter ended June 30, 2015.

Third-Quarter Highlights

  • Sales were $909 million, down $70 million, or 7 percent, from the same period last year.
  • Net income attributable to Meritor on a GAAP basis was $13 million, compared with $234 million in the same period last year. Net income a year ago included $209 million from the antitrust settlement with Eaton Corporation.
  • Net income from continuing operations was $15 million, or $0.15 per diluted share, compared with $237 million, or $2.34 per diluted share, in the prior year.
  • Adjusted net income from continuing operations was $41 million, or adjusted diluted earnings per share of $0.41, compared with $29 million, or $0.29, in the prior year.
  • Adjusted EBITDA was $87 million, compared with $82 million in the prior year.
  • Adjusted EBITDA margin was 9.6 percent, compared with 8.4 percent in the third quarter of fiscal year 2014.
  • Free cash flow was $71 million, flat relative to the same period last year.
  • Meritor repurchased $18 million of equity and equity-linked notes in the third quarter as part of its $210 million repurchase program.

Third-Quarter Results

For the third quarter of fiscal year 2015, Meritor posted sales of $909 million, down $70 million, or 7 percent, from the same period last year. This decrease was due to currency exchange rate declines in Europe and Brazil against the U.S. dollar. When adjusted for the impact of foreign currency, sales for the period increased 1 percent from a year ago.

Net income from continuing operations on a GAAP basis was $15 million, or $0.15 per diluted share, compared with $237 million, or $2.34 per diluted share, in the prior year.

Adjusted net income from continuing operations in the third quarter was $41 million, or adjusted per diluted earnings per share of $0.41, compared with $29 million, or adjusted per diluted earnings per share of $0.29, in the prior year.

Adjusted EBITDA was $87 million, compared with $82 million in the third quarter of fiscal year 2014. Adjusted EBITDA margin for the third quarter of fiscal year 2015 was 9.6 percent, compared with 8.4 percent in the same period last year. The improvements in Adjusted EBITDA and Adjusted EBITDA margin were driven primarily by material, labor and burden performance and pricing actions, which more than offset the impact of lower revenue.

Free cash flow from operating activities in the third quarter of fiscal year 2015 was $71 million, flat relative to the same period last year.

Third-Quarter Segment Results

Commercial Truck & Industrial sales were $705 million, down $56 million, or 7 percent, compared with the same period last year. Revenue was unfavorably impacted by the strengthening U.S. dollar against most currencies – especially the euro and the Brazilian real. Higher truck production in North America, driven by a strong Class 8 market, offset lower production in South America and China.

Segment EBITDA for the Commercial Truck & Industrial segment was $58 million for the quarter, up $3 million from the third quarter of fiscal year 2014. Segment EBITDA margin was 8.2 percent, up 1 percentage point from the same period last year. Strong material and operational performance and pricing actions more than offset the impact of lower revenue.

The Aftermarket & Trailer segment posted sales of $233 million, down 8 percent from the same period last year. The unfavorable impact of the strengthening U.S. dollar against the euro drove lower revenue in the company's Aftermarket business in Europe. Segment EBITDA for Aftermarket & Trailer was $31 million, compared with $28 million in the third quarter of fiscal year 2014. Segment EBITDA margin was 13.3 percent, up 2.2 percentage points from the same period last year. The increases in Segment EBITDA and Segment EBITDA margin were attributable to net material, labor and burden performance and pricing actions that were executed during the last year.

Balance Sheet Actions

Meritor enhanced its financial flexibility with capital market transactions completed in the third quarter of fiscal year 2015. The company issued an additional $225 million of its existing 6.25 percent notes due 2024. Net proceeds financed the repurchase of $85 million aggregate principal amount at maturity of its 7.875 percent convertible notes due 2026. As a result of this transaction, the dilution impact of these convertible notes has been reduced. The company also expects to use proceeds from the offering to fund the purchase of an annuity in the fourth quarter to satisfy its obligations under German pension plans for its employees.

In the quarter, Meritor repurchased 1.1 million common shares using $14 million of cash and also repurchased $4 million of its 4 percent convertible notes due 2027. As of June 30, the company has repurchased $49 million of equity and equity-linked notes and is on track to complete the program by the end of fiscal 2016.

New Business Win with PACCAR

Meritor announced that it has secured standard product positioning with PACCAR for front axles in North America. In January 2015, the company announced an agreement with PACCAR for preferred positioning on rear axles in North America and Australia.

"We are excited to continue building our relationship with PACCAR in such a significant way," said Jay Craig, CEO and President of Meritor. "The Meritor team remains fully committed to delivering industry-leading products to support PACCAR in building great trucks."

Outlook for Fiscal Year 2015

The company's guidance for fiscal year 2015 is as follows:

  • Revenue will be in the range of $3.50 billion to $3.55 billion, unchanged from prior guidance.
  • Adjusted EBITDA margin of approximately 9.3 percent, as compared with prior guidance of 9.0 percent to 9.2 percent.
  • Adjusted diluted earnings per share from continuing operations will range from $1.40 to $1.50, as compared with prior guidance of $1.30 to $1.40.
  • Effective income tax rate of approximately 15 percent remains unchanged from the prior estimate.
  • Free cash flow to be approximately $110 million, up from previous guidance of approximately $100 million, excluding the potential impact of the company's planned buyout of its German pension liability.

Meritor anticipates the following assumptions for the entire company:

  • Capital expenditures of approximately $80 million, compared with the prior estimated range of $80 million to $90 million.
  • Interest expense in the range of $80 million to $85 million remains unchanged, excluding the loss on debt extinguishment from the capital market transactions executed during the third quarter.
  • Cash interest in the range of $65 million to $70 million remains unchanged.

"We believe our performance in fiscal year 2015 demonstrates our commitment to meet or exceed our financial objectives," Craig said. "We're confident that execution of our M2016 strategy positions us well to continue generating enhanced shareholder value."

Third-Quarter Fiscal Year 2015 Conference Call

Meritor will host a conference call and webcast to discuss the company's third-quarter results for fiscal year 2015 on Wednesday, July 29, 2015, at 9 a.m. ET. To participate, call (617) 213-4865, 10 minutes prior to the start of the call. Please reference passcode 82851508 when registering. Investors can also listen to the conference call in real time or access a recording of the call for seven days after the event by visiting the investor page on www.meritor.com.

A replay of the call will be available starting at 1 p.m. ET on July 29, until 11:59 p.m. ET on Aug. 5, by calling (888) 286-8010 (within the United States) or (617) 801-6888 for international calls. Please refer to replay passcode 12130332. To access the listen-only audio webcast, visit meritor.com and select the webcast link from the home page or the investor page.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

Forward-Looking Statement

This release contains statements relating to future results of the company (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "estimate," "should," "are likely to be," "will" and similar expressions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to reduced production for certain military programs and our ability to secure new military programs as our primary military program winds down; reliance on major original equipment manufacturer ("OEM") customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations and our ability to obtain new customers; the outcome of actual and potential product liability, warranty and recall claims; our ability to successfully manage rapidly changing volumes in the commercial truck markets and work with our customers to manage demand expectations in view of rapid changes in production levels; global economic and market cycles and conditions; availability and sharply rising costs of raw materials, including steel, and our ability to manage or recover such costs; our ability to manage possible adverse effects on our European operations, or financing arrangements related thereto, in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); rising costs of pension and other postemployment benefits; the ability to achieve the expected benefits of restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle productions in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; possible changes in accounting rules; and other substantial costs, risks and uncertainties, including but not limited to those detailed herein and from time to time in other filings of the company with the SEC. See also the following portions of our Annual Report on Form 10-K for the year ended September 30, 2014, as amended: Item 1.Business, "Customers; Sales and Marketing"; "Competition"; "Raw Materials and Supplies"; "Employees"; "Environmental Matters"; "International Operations"; and "Seasonality; Cyclicality"; Item 1A.Risk Factors; Item 3.Legal Proceedings; and Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law. All earnings per share amounts are on a diluted basis. The company's fiscal year ends on the Sunday nearest Sept. 30, and its fiscal quarters generally end on the Sundays nearest Dec. 31, March 31 and June 30. All year and quarter references relate to the company's fiscal year and fiscal quarters, unless otherwise stated.

Non-GAAP Financial Measures

In addition to the results reported in accordance with accounting principles generally accepted in the United States ("GAAP") included throughout this press release, the company has provided information regarding non-GAAP financial measures. These non-GAAP financial measures include adjusted income (loss) from continuing operations, Adjusted diluted earnings (loss) per share from continuing operations, Adjusted EBITDA, Adjusted EBITDA margin, Free cash flow, and net debt.

Adjusted income (loss) from continuing operations and Adjusted diluted earnings (loss) per share from continuing operations are defined as reported income or loss from continuing operations and reported diluted earnings (loss) per share from continuing operations before restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA is defined as income (loss) from continuing operations before interest, income taxes, depreciation and amortization, non-controlling interests in consolidated joint ventures, loss on sale of receivables, restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by consolidated sales from continuing operations. Free cash flow is defined as cash flows provided by (used for) operating activities less capital expenditures. Net debt including retirement liabilities is defined as total debt plus pension assets, pension liability, retiree medical liability and other retirement benefits less cash and cash equivalents.

Management believes that the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the company's financial position and results of operations. In particular, management believes that Adjusted EBITDA, Adjusted EBITDA margin and Adjusted diluted earnings (loss) per share from continuing operations are meaningful measures of performance as they are commonly utilized by management and the investment community to analyze operating performance in our industry. Further, management uses these non-GAAP financial measures for planning and forecasting future periods. Management believes that Free cash flow is useful in analyzing our ability to service and repay debt and return value directly to shareholders. Net debt, including retirement liabilities, is a specific financial measure which is part of our three-year plan, M2016, to reduce debt and other balance sheet liabilities.

Adjusted income (loss) from continuing operations, Adjusted diluted earnings (loss) per share from continuing operations and Adjusted EBITDA should not be considered a substitute for the reported results prepared in accordance with GAAP and should not be considered as an alternative to net income as an indicator of our operating performance or to cash flows as a measure of liquidity. Free cash flow should not be considered a substitute for cash provided by (used for) operating activities, or other cash flow statement data prepared in accordance with GAAP, or as a measure of financial position or liquidity. In addition, these non-GAAP cash flow measures do not reflect cash used to repay debt or cash received from the divestitures of businesses or sales of other assets and thus do not reflect funds available for investment or other discretionary uses.

These non-GAAP financial measures, as determined and presented by the company, may not be comparable to related or similarly titled measures reported by other companies.

Set forth on the following pages are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP.

Segment EBITDA and EBITDA Margins

Segment EBITDA is defined as income (loss) from continuing operations before interest expense, income taxes, depreciation and amortization, non-controlling interests in consolidated joint ventures, loss on sale of receivables, restructuring expense and asset impairment charges. We use Segment EBITDA as the primary basis for the Chief Operating Decision Maker to evaluate the performance of each of our reportable segments. Segment EBITDA margin is defined as Segment EBITDA divided by consolidated sales from continuing operations.

 

CLICK HERE TO VIEW FINANCIAL STATEMENTS

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor ChampTruck World Series® Brings Thrill of Big-Rig Racing to Virginia International Raceway
  
Aug 07 2015

ALTON, Va. (Aug. 7)  ̶  Drivers will rev their engines for an exciting weekend of heavy-duty truck racing when Virginia International Raceway hosts the Meritor ChampTruck World Series®.

 

“For the first time since 1993, American racing fans can experience the fast-paced fun of watching big-rig trucks compete in a weekend of exciting events,” said Ryan Obert, senior manager, Product Marketing for Meritor. “Class 8 heavy-duty truck racing is fan-friendly and family affordable with immediate access to the trucks, the drivers and teams.”

 

Racing action for the sixth event in the Meritor ChampTruck World Series begins at 8:30 a.m. Friday. Admission is $10 for adults and includes paddock access. Gates open to the public at 7 a.m. on Friday, with practice, qualifying and racing events taking place throughout the day. A driver autograph session starts at 11:30 a.m.

 

More heat races are scheduled for Saturday. Another driver autograph session begins at 10:30 a.m. The championship podium race starts at noon. For more information, visit the ChampTruck website at http://www.champtruck.us.com.

 

Meritor, Inc. is executive title sponsor of the Meritor ChampTruck World Series for the 2015 season. Nine events conclude with the 2015 Meritor ChampTruck Series National Championship at Las Vegas Motor Speedway Oct. 30 through Nov. 1. Drivers earn and accumulate points for the national championship event. Any conventional or cab-over truck that’s at least 5 years old can race in the Meritor ChampTruck World Series events throughout the country.

 

Allen Boles, representing Charlotte, North Carolina-based Jupiter Enterprises’ 10-truck fleet, placed first in the podium race in the fifth Meritor ChampTruck World Series Race in July at Gateway Motorsports Park in Granite City, Illinois.

 

An overview of the Meritor ChampTruck World Series, including interviews with drivers and the Meritor DriveForce™ team, is available at http://youtu.be/NrlvnY-MDm4  and http://vimeopro.com/user17218163/bumper-rea-big-trucks#/video/132228776.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor® to Supply Components to Oshkosh Corporation for Recently Awarded JLTV Program
  
Aug 26 2015

TROY, Mich. (Aug. 26, 2015)  ̶  Meritor, Inc. (NYSE: MTOR) announced today it plans to supply wheel-ends for approximately 17,000 Joint Light Tactical Vehicles (JLTV) to be manufactured by Oshkosh Corporation. The Department of Defense awarded the 8-year JLTV production contract to Oshkosh on Aug. 25, 2015.

 

Meritor’s bevel gear hub wheel-ends will help optimize the Oshkosh JLTV’s payload capability and mobility. “For more than half a century, we’ve supported our troops by delivering technology solutions for military applications,” said Tim Burns, vice president, Defense & Specialty for Meritor. “We’re proud to support this next-generation light, protected tactical vehicle for the Army and Marine Corps.”

           

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

Forward-Looking Statement

This release contains statements relating to future results of the company (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “anticipate,” “estimate,” “should,” “are likely to be,” “will” and similar expressions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to reduced production for certain military programs and our ability to secure new military programs as our primary military program winds down; reliance on major original equipment manufacturer (“OEM”) customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations and our ability to obtain new customers; the outcome of actual and potential product liability, warranty and recall claims; our ability to successfully manage rapidly changing volumes in the commercial truck markets and work with our customers to manage demand expectations in view of rapid changes in production levels; global economic and market cycles and conditions; availability and sharply rising costs of raw materials, including steel, and our ability to manage or recover such costs; our ability to manage possible adverse effects on our European operations, or financing arrangements related thereto, in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); rising costs of pension and other postemployment benefits; the ability to achieve the expected benefits of restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle productions in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; possible changes in accounting rules; and other substantial costs, risks and uncertainties, including but not limited to those detailed herein and from time to time in other filings of the company with the SEC. See also the following portions of our Annual Report on Form 10-K for the year ended September 30, 2014, as amended: Item 1.Business, “Customers; Sales and Marketing”; “Competition”; “Raw Materials and Supplies”; “Employees”; “Environmental Matters”; “International Operations”; and “Seasonality; Cyclicality”; Item 1A.Risk Factors; Item 3.Legal Proceedings; and Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law. All earnings per share amounts are on a diluted basis. The company's fiscal year ends on the Sunday nearest Sept. 30, and its fiscal quarters generally end on the Sundays nearest Dec. 31, March 31 and June 30. All year and quarter references relate to the company's fiscal year and fiscal quarters, unless otherwise stated.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

 

Press ReleaseCompanyGlobal 
Meritor ChampTruck World Series® Brings Big-Rig Racing
  
Sep 11 2015

HASTINGS, Neb. (Sept. 11, 2015) – Drivers will rev their engines for three days of heavy-duty truck racing when Motorsports Park Hastings hosts the Meritor ChampTruck World Series® beginning today. Veteran Indy 500 racer Davy Hamilton will be driving the No. 11 Optima Battery Freightliner.

"For the first time in 22 years, American racing fans are experiencing the fun of watching Class 8 heavy-duty trucks compete in three days of exciting events," said Marty Hetherington, manager, Brand and Marketing, Aftermarket for Meritor. "These races are fan-friendly and family affordable with access to the trucks, the drivers and teams."

The truck racing weekend at Motorsports Park Hastings is the seventh event in the Meritor ChampTruck World Series. Today's activities include open practice sessions and a drag racing exhibition. Gates open at 8 a.m. Saturday and Sunday.

Warm-ups begin at 9:55 a.m. Saturday, with two heat races scheduled for the afternoon. Supporting events will include two Mustang invitational races and autograph sessions. Two more heat races and additional auto racing events take place on Sunday, with the podium race and awards ceremony closing out the racing weekend.

Racing fans are admitted free of charge today. Saturday and Sunday admission is $20 per person or $30 for a two-day weekend ticket that includes full pit and paddock access. For more information, visit the ChampTruck website.

"We're really excited about having Davy Hamilton, who is one this country's best Indy 500 drivers, racing in the Meritor ChampTruck World Series," said John Condron, CEO for Meritor ChampTruck. "Davey has raced just about everything with wheels, and with ChampTruck, he will have completely filled every driving option."

Meritor is the executive title sponsor of the Meritor ChampTruck World Series for the 2015 season. The 10-event series will conclude with the 2015 Meritor ChampTruck Series National Championship at Las Vegas Motor Speedway, Oct. 30 through Nov. 1. Drivers earn and accumulate points for the national championship event.

Allen Boles, racing his 1980 Peterbilt 359, finished first in the podium race at the sixth Meritor ChampTruck World Series Race, held at Virginia International Raceway in Alton, Virginia. The next regular season race is scheduled for the Portland International Raceway in Portland, Oregon Oct. 2 through Oct. 4.

An overview of the Meritor ChampTruck World Series, including interviews with drivers and the Meritor DriveForce™ team, is available at http://youtu.be/NrlvnY-MDm4l.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

For important information, visit the company's website at meritor.com.

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor ChampTruck World Series® Concludes 2015 Season at Portland International Raceway
  
Oct 01 2015

Portland, Ore. (Oct. 1, 2015) – Drivers will rev their engines for the Meritor ChampTruck World Series’® final regular-season racing weekend beginning Friday at Portland International Raceway.

 

“The 2015 Meritor ChampTruck season marks the first time in 22 years that American racing fans have experienced the fun of watching Class 8 heavy-duty trucks compete in three days of exciting events,” said Krista Sohm, vice president, Marketing & Communications for Meritor. “These racing weekends have been fast-paced and family-affordable with immediate access to the trucks, the drivers and teams.”

 

The truck racing weekend at Portland International Raceway is the eighth event in the Meritor ChampTruck World Series. Gates open at 8 a.m. Friday through Sunday.

 

Friday’s activities include open practice sessions. Warm-ups begin at 9 a.m. Saturday, with three heat races scheduled for the afternoon. Racing events continue on Sunday, with the podium race and awards ceremony closing out the racing weekend.

 

Racing fans are admitted free of charge on Friday. Saturday and Sunday admission is $20 per person or $30 for a two-day weekend ticket that includes full pit and paddock access. For more information, visit the ChampTruck website.

 

Meritor is the executive title sponsor of the Meritor ChampTruck World Series for the 2015 season. The series will conclude with the 2015 Meritor ChampTruck Series National Championship at Las Vegas Motor Speedway, Oct. 30 through Nov. 1. Drivers earn and accumulate points for the national championship event.

 

Krisztian Szabo of Hungary raced to his second Meritor ChampTruck victory at the seventh Meritor ChampTruck World Series Race, held at Motorsports Park Hastings in Nebraska.

 

An overview of the Meritor ChampTruck World Series, including interviews with drivers and the Meritor DriveForce™ team, is available at http://youtu.be/NrlvnY-MDm4. 

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

 

Press ReleaseCompanyGlobal 
Meritor® Introduces Remanufactured Air Dryers by Meritor WABCO
  
Oct 05 2015

TROY, Mich. (Oct. 5, 2015)  Meritor, Inc. (NYSE: MTOR) announced the launch of genuine Meritor WABCO remanufactured air dryers that are designed to deliver the sustained durability and performance of new OEM parts at a reduced price.

 

Beginning this month, Meritor will start selling remanufactured System Saver™ 1200 family air dryers for heavy- and medium-duty commercial trucks. Each industry-leading System Saver air dryer is remanufactured with genuine Meritor WABCO components and tested to ensure OE quality and performance.

 

“Remanufactured Meritor WABCO air dryers are a cost-effective option that doesn’t sacrifice original equipment manufacturer quality,” said Steve Hampson, president and general manager for Meritor WABCO. “We have the complete product knowledge, replacement parts and test capabilities required to build reliable and high-quality parts.”

 

When using remanufactured products, fleets should make sure that they meet OE quality standards, Hampson added. Using recommended OE parts and processes reduces the risk of diminishing functionality, water downstream and damage to vehicle systems such as brakes, engines and transmissions.

 

Cartridges are a vital factor when considering air dryer performance and quality. Meritor WABCO remanufactured air dryers are packaged with the same OEM-approved cartridges as used on production vehicles. Meritor WABCO air dryer systems have the drying performance specified by OEs, which helps to decrease the risk of water damage to internal components.

 

The addition of genuine Meritor WABCO remanufactured air dryers supports Meritor’s goal of providing cost-effective aftermarket solutions to customers with vehicles of various ages.

 

Remanufactured with OE authenticity at WABCO’s award-winning Reman Solutions facility in Rochester Hills, Michigan, Meritor WABCO’s remanufactured System Saver air dryers are designed to meet virtually any vocational requirement. Compact and lightweight designs offer easy installation.

 

“Adding these products to the Meritor WABCO remanufacturing portfolio, brought to the market by Meritor, furthers our goal of providing cost effective remanufactured solutions,” said Tim Bauer, director, Remanufacturing for Meritor. “Remanufacturing has positive environmental impact because recycling components prevents waste of used materials and allows their continued usage by the customer.”

 

Hampson added: “Returning used cores helps Meritor WABCO ensure continuation of the remanufacturing process that keeps costs low for end-users.”

 

Meritor WABCO System Saver air dryer cores will be collected through Meritor’s core center. Details for collection of cores are available at MeritorCoreOnline.com.

 

The remanufactured air dryers are an important element of Meritor’s comprehensive aftermarket parts offering of genuine Meritor WABCO aftermarket parts. For information about returning air dryer cores or purchasing remanufactured Meritor WABCO air dryers, call 888-725-9355 or visit www.meritorpartsonline.com.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

About Meritor WABCO 

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency components. These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading parent companies back Meritor WABCO, each with more than 100 year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides Meritor WABCO the industry’s most extensive service and support network. WABCO Holdings Inc. (NYSE:WBC) is a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles. WABCO continues to pioneer breakthrough products and systems for braking, stability, suspension, and transmission automation. For more information, visit www.meritorwabco.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor WABCO Receives Sixth Platinum Supplier Award from Wabash National Corp.
  
Oct 06 2015

TROY, Mich. (Oct. 6, 2015)Meritor WABCO has earned the prestigious 2015 Platinum Supplier Award from Wabash National Corp. for excellence in quality and delivery performance. Meritor WABCO is one of two suppliers to win this award six times − the most of any Wabash supplier.

 

At its annual supplier conference, Wabash, a leading manufacturer of semi-trailers in North America, recently recognized key companies that went above and beyond to meet increasing customer demand and maximize productivity.

 

Meritor WABCO supplies Wabash with SmartTrac™ trailer anti-lock braking, roll stability and InfoLink™ data gateway systems. InfoLink supports tag and lift axle control as well as tire inflation communication systems. These Meritor WABCO products contribute to the safety and efficiency performance of Wabash semi-trailers in North America.

 

“It’s an honor to receive the Platinum Supplier Award which recognizes Meritor WABCO’s commitment to meet our valued customer’s expectations for quality, cost, service and delivery during a record build year,” said Steve Hampson, president and general manager for Meritor WABCO. “As the market leader in trailer air brake system components with our SmartTrac™ portfolio, we continue to offer innovative safety and efficiency products that support fleet objectives for increased vehicle uptime and improved productivity.”

 

About Meritor WABCO

Meritor WABCO is a North American joint venture focused on the development and delivery of proven, integrated safety technology and efficiency components. These include braking systems and controls, active safety systems, and suspension and control systems for commercial vehicles in North America. Two leading parent companies back Meritor WABCO, each with more than 100 year legacies. Meritor, Inc. (NYSE:MTOR), a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, provides Meritor WABCO the industry’s most extensive service and support network. WABCO Holdings Inc. (NYSE:WBC) is a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles. WABCO continues to pioneer breakthrough products and systems for braking, stability, suspension, and transmission automation. For more information, visit www.meritorwabco.com.

 

CONTACT:

 

Bonnie Gibson

(248) 435-8706

bonnie.gibson@meritorwabco.com

Press ReleaseCompanyGlobal 
AttachmentMeritor’s Vice President of Quality Receives Women of Color STEM Award
  
Oct 20 2015

DETROIT (Oct. 20, 2015)  ̶  Linda Taliaferro, vice president, Quality for Meritor, Inc. (NYSE: MTOR), received a Special Recognition Award for her dedicated service in advancing technology and science on Oct. 16 at the 2015 Women of Color STEM (science, technology, engineering and mathematics) Conference in Detroit.

 

“Meritor understands the importance of attracting, retaining and developing diverse talent,” said Tim Heffron, vice president, Human Resources, and chief information officer for Meritor. “The company relies on the unique contributions of employees like Linda to drive success in our commercial truck, industrial and aftermarket businesses.”

 

Taliaferro, who joined Meritor in November 2014, was selected by a panel of peers from hundreds of nominations nationwide. She is responsible for overseeing quality at 28 Meritor sites in 18 countries on five continents. Prior to Meritor, Taliaferro served in key quality leadership roles at Littelfuse, Inc., Johnson Controls, Inc. and Hayes Lemmerz, Inc., which is now Maxion Wheels.

 

She was one of 30 women recognized for their accomplishments in science, technology, engineering and mathematics at the three-day conference. In addition to receiving the Special Recognition Award, Taliaferro was a panelist in a seminar titled “Changing Leadership Skills, Life Lessons and Mistakes.” Taliaferro and other award recipients will be featured in an upcoming issue of Women of Color magazine.

 

Women of Color also honored Sonya Moore, program manager for Meritor, with a 2015 Technology Rising Star Award for helping to shape future technologies. Awardees were nominated by their companies.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

 

Photo caption: Two Meritor employees were recognized with 2015 Women of Color STEM (science, technology, engineering and mathematics) awards Oct. 16. Linda Taliaferro (left), vice president, Quality, earned a Special Recognition Award for her dedicated service in advancing technology and science. Sonya Moore, program manager, received a Technology Rising Star Award for helping to shape future technologies. Photo credit: Nancy Jo Brown/106FOTO.

Press ReleaseCompanyGlobal 
Meritor Names Paul Bialy Vice President, Controller and Principal Accounting Officer
  
Nov 10 2015

TROY, Mich. (Nov. 10, 2015)  ̶  Meritor, Inc. (NYSE: MTOR) today announced the appointment of Paul Bialy as vice president, controller and principal accounting officer, effective Dec. 1, 2015.

 

In this role, Bialy has responsibility for external reporting, corporate accounting and global tax. He will continue to report to Kevin Nowlan, senior vice president and chief financial officer. Since 2013, Bialy has served as senior director and controller.

 

“Paul has brought significant value to the team as a leader in the Finance organization,” said Kevin Nowlan, senior vice president and chief financial officer. “This promotion recognizes his many contributions to Meritor.”

 

Bialy joined Meritor in 2008 as finance director, Pricing and Product Finance. He was senior director, Global Tax from 2011 until 2013. Before Meritor, he was senior manager, Financial Planning and Analysis, and manager, Corporate Accounting and Reporting for General Motors Acceptance Corporation (GMAC). He also served as finance director, Marketing and Advertising Strategy, and manager, Corporate Accounting for Kmart Corporation. Prior to Kmart, he held various positions at Ernst & Young, LLP, achieving the level of audit manager.

 

Bialy earned a bachelor of arts in accounting from Michigan State University and a master of science in taxation from Walsh College.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor Reports Fourth Quarter and Fiscal Year 2015 Results - Generates Fiscal Year Adjusted Diluted Earnings Per Share from Continuing Operations of $1.55. Reports Fiscal Year Adjusted EBITDA Margin of 9.5 Percent, up 120 Basis Points Year Over Year.
  
Nov 10 2015

TROY, Mich. (Nov. 10, 2015) — Meritor, Inc. (NYSE: MTOR) today reported financial results for its fourth quarter and full fiscal year ended Sept. 30, 2015.

Fourth-Quarter Highlights

  • Sales were $853 million, compared to $933 million, in the same period last year.
  • Net loss attributable to Meritor was $21 million for the period, compared to net income of $3 million in the same period last year. Net loss from continuing operations attributable to Meritor was $21 million, compared to net income of $29 million in the same period last year.
  • Adjusted income from continuing operations was $37 million, or $0.39 per adjusted diluted earnings per share, compared to $35 million, or $0.35 per adjusted diluted earnings per share, a year ago.
  • Adjusted EBITDA was $81 million, compared to $80 million in the same period last year. Adjusted EBITDA margin of 9.5 percent increased from 8.6 percent in the same period last year.
  • Meritor repurchased $25 million of common stock in the fourth quarter under its $210 million equity and equity-linked repurchase program.

Fourth-Quarter Results

For the fourth quarter of fiscal year 2015, Meritor posted sales of $853 million, down $80 million, or 9 percent, from the same period last year. This decrease was primarily due to weaker foreign currency exchange rates relative to the U.S. dollar.

Net loss from continuing operations attributable to Meritor was $21 million, or negative $0.22 per diluted share, compared to net income from continuing operations attributable to Meritor of $29 million, or $0.29 per diluted share, in the prior year.

Net loss attributable to Meritor was $21 million for the period, compared to net income attributable to Meritor of $3 million in the fourth quarter 2014.

In the fourth quarter of fiscal year 2015, the company recognized a pension settlement loss of $55 million, net of tax, associated with the settlement of its German and Canadian pension plans and total goodwill and asset impairment charges of $13 million, net of tax, related to its Defense business. In addition, the company reversed valuation allowances against deferred tax assets in certain European jurisdictions and Mexico, which resulted in a $16 million income tax benefit in the quarter.

Adjusted net income from continuing operations in the fourth quarter was $37 million, or adjusted diluted earnings per share of $0.39, compared to $35 million, or adjusted diluted earnings per share of $0.35, in the prior year.

Adjusted EBITDA was $81 million, compared to $80 million in the fourth quarter of fiscal year 2014. Adjusted EBITDA margin for the fourth quarter of fiscal year 2015 was 9.5 percent, compared to 8.6 percent in the same period last year. The improvements in Adjusted EBITDA and Adjusted EBITDA margin were driven primarily by material, labor and burden performance and pricing actions, which more than offset the impact of lower revenue.

Free cash flow in the fourth quarter of fiscal year 2015 was negative $59 million, compared to $74 million in the same period last year. Free cash flow in the fourth quarter of fiscal year 2015 included an outflow of $94 million to fund the company's voluntary buyout of its German and Canadian pension plan obligations. Free cash flow in the prior year's fourth quarter included $209 million of proceeds from the settlement of the Eaton antitrust litigation. Those proceeds were partially offset by $134 million associated with the voluntary pre-funding of three years of mandatory pension contributions to the company's U.S. and U.K. pension plans.

Fourth-Quarter Segment Results

Commercial Truck & Industrial sales were $650 million, down $79 million, or 11 percent, compared to the same period last year. Revenue was unfavorably impacted by the strengthening U.S. dollar against most currencies, primarily the euro and the Brazilian real. Higher truck production in North America driven by a strong Class 8 truck market partially offset lower production in South America and China.

Segment EBITDA for the Commercial Truck & Industrial segment was $45 million for the quarter, down $8 million from the fourth quarter of fiscal year 2014. Segment EBITDA margin was 6.9 percent, compared to 7.3 percent in the same period last year. The year-over-year Segment EBITDA and Segment EBITDA margin decreases were due primarily to lower revenue.

The Aftermarket & Trailer segment posted sales of $231 million, down 4 percent from the same period last year. The unfavorable impact of the strengthening U.S. dollar against the euro drove lower revenue in the company's Aftermarket business in Europe. Segment EBITDA for Aftermarket & Trailer was $37 million, compared to $34 million in the fourth quarter of fiscal year 2014. Segment EBITDA margin was 16 percent, up 1.8 percentage points from the same period last year. The increases in Segment EBITDA and Segment EBITDA margin were attributable to material, labor and burden performance and pricing actions that were executed during the 2015 fiscal year.

Equity and Equity-Linked Repurchase Program

In the fourth quarter, Meritor repurchased 1.9 million shares of common stock for $25 million, for a total of 4.2 million common shares repurchased during the fiscal year 2015. Through the end of September, the company had repurchased $74 million of equity and equity-linked notes under its $210 million repurchase program and is on track to complete its repurchase by the end of fiscal 2016.

Fiscal Year Results

In fiscal year 2015, Meritor posted sales of $3.505 billion, down 7 percent from the prior year, primarily due to the unfavorable impact of foreign currency exchange rates relative to the U.S. dollar. Weaker end markets in Brazil and China also contributed to the revenue decline, partially offset by the strong Class 8 truck market in North America.

Net income attributable to Meritor was $64 million compared to $249 million in the prior fiscal year. Net income attributable to Meritor in fiscal year 2014 included a gain of $209 million from the settlement of the Eaton antitrust litigation. Adjusted income from continuing operations in fiscal year 2015 was $155 million, or adjusted diluted earnings per share of $1.55, compared to $101 million, or adjusted diluted earnings per share of $1.02, in the prior year.

Adjusted EBITDA was $334 million in fiscal year 2015, compared to $314 million in fiscal year 2014, driven primarily by improved material and operating performance and pricing initiatives. Adjusted EBITDA margin was 9.5 percent in fiscal year 2015, up 120 basis points compared to the prior fiscal year.

Free cash flow for the full fiscal year was $18 million, as compared to $138 million in fiscal year 2014. Free cash flow for fiscal year 2015 included an outflow of $94 million to fund the company's voluntary buyout of its German and Canadian pension plan obligations. Free cash flow in fiscal year 2014 included $209 million of proceeds from the settlement of the Eaton antitrust litigation, partially offset by $134 million associated with the voluntary pre-funding of three years of mandatory pension contributions to the company's U.S. and U.K. pension plans.

Outlook for Fiscal Year 2016

Meritor expects the following from continuing operations:

  • Revenue to be in the range of $3.4 billion to $3.5 billion.
  • Adjusted EBITDA margin of 10 percent.
  • Adjusted diluted earnings per share in the range of $1.60 to $1.70.
  • Total free cash flow to be approximately $115 million.

For the entire company, Meritor expects:

  • Capital expenditures to be approximately $90 million.
  • Interest expense in the range of $80 million to $90 million.
  • Cash interest in the range of $65 million to $75 million.
  • Effective tax rate to be approximately 15 percent.

"We are continuing to demonstrate strong performance against our transformational M2016 objectives as shown by our results this past year," said Jay Craig, CEO and president of Meritor. "By doing so, we believe the company will be better positioned to capitalize on meaningful growth opportunities as we look beyond 2016."

Fourth-Quarter and Fiscal Year 2015 Conference Call

Meritor will host a conference call and webcast to discuss the company's fourth quarter and full-year earnings results for fiscal year 2015 on Wednesday, Nov. 11, 2015, at 10 a.m. ET.

To participate, dial (617) 213-4856 at least 10 minutes prior to the start of the call. Please reference passcode 59554955 when registering. Investors can also listen to the conference call in real time or access a recording of the call for seven days after the event by visiting the investors page on www.meritor.com.

A replay of the call will be available starting at 1 p.m. ET on Nov. 11, until 11:59 p.m. ET on Nov. 18, by calling (888) 286-8010 (within the United States) or (617) 801-6888 for international calls. Please refer to replay passcode 20644933. To access the listen-only audio webcast, visit www.meritor.com and select the webcast link from the home page or the investor page.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 8,400 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.

Forward-Looking Statement

This release contains statements relating to future results of the company (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "estimate," "should," "are likely to be," "will" and similar expressions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to reliance on major original equipment manufacturer ("OEM") customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations and our ability to obtain new customers; the outcome of actual and potential product liability, warranty and recall claims; our ability to successfully manage rapidly changing volumes in the commercial truck markets and work with our customers to manage demand expectations in view of rapid changes in production levels; global economic and market cycles and conditions; availability and sharply rising costs of raw materials, including steel, and our ability to manage or recover such costs; our ability to manage possible adverse effects on our European operations, or financing arrangements related thereto, in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); rising costs of pension and other postemployment benefits; the ability to achieve the expected benefits of restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle productions in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential difficulties competing with companies that have avoided their existing contracts in bankruptcy and reorganization proceedings; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any litigation with respect to environmental or asbestos-related matters; possible changes in accounting rules; and other substantial costs, risks and uncertainties, including but not limited to those detailed herein and from time to time in other filings of the company with the SEC. See also the following portions of our Annual Report on Form 10-K for the fiscal year ended September 30, 2014, as amended: Item 1.Business, "Customers; Sales and Marketing"; "Competition"; "Raw Materials and Supplies"; "Employees"; "Environmental Matters"; "International Operations"; and "Seasonality; Cyclicality"; Item 1A.Risk Factors; Item 3.Legal Proceedings; and Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law. All earnings per share amounts are on a diluted basis. The company's fiscal year ends on the Sunday nearest Sept. 30, and its fiscal quarters generally end on the Sundays nearest Dec. 31, March 31 and June 30. All year and quarter references relate to the company's fiscal year and fiscal quarters, unless otherwise stated.

Non-GAAP Financial Measures

In addition to the results reported in accordance with accounting principles generally accepted in the United States ("GAAP") included throughout this press release, the company has provided information regarding non-GAAP financial measures. These non-GAAP financial measures include Adjusted income (loss) from continuing operations, Adjusted diluted earnings (loss) per share from continuing operations, Adjusted EBITDA, Adjusted EBITDA margin, Free cash flow, and Net debt including retirement liabilities.

Adjusted income (loss) from continuing operations and Adjusted diluted earnings (loss) per share from continuing operations are defined as reported income or loss from continuing operations and reported diluted earnings (loss) per share from continuing operations before restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA is defined as income (loss) from continuing operations before interest, income taxes, depreciation and amortization, non-controlling interests in consolidated joint ventures, loss on sale of receivables, restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by consolidated sales from continuing operations. Free cash flow is defined as cash flows provided by (used for) operating activities less capital expenditures. Net debt including retirement liabilities is defined as total debt plus pension assets, pension liability, retiree medical liability and other retirement benefits less cash and cash equivalents.

Management believes these non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the company's financial position and results of operations. In particular, management believes that Adjusted EBITDA, Adjusted EBITDA margin and Adjusted diluted earnings (loss) per share from continuing operations are meaningful measures of performance as they are commonly utilized by management and the investment community to analyze operating performance in our industry. Further, management uses these non-GAAP financial measures for planning and forecasting future periods.

Management believes that Free cash flow is useful in analyzing our ability to service and repay debt and return value directly to shareholders. Net debt, including retirement liabilities, is a specific financial measure which is part of our three-year plan, M2016, to reduce debt and other balance sheet liabilities.

Adjusted income (loss) from continuing operations, Adjusted diluted earnings (loss) per share from continuing operations and Adjusted EBITDA should not be considered a substitute for the reported results prepared in accordance with GAAP and should not be considered as an alternative to net income as an indicator of our operating performance or to cash flows as a measure of liquidity. Free cash flow should not be considered a substitute for cash provided by (used for) operating activities, or other cash flow statement data prepared in accordance with GAAP, or as a measure of financial position or liquidity. In addition, these non-GAAP cash flow measures do not reflect cash used to repay debt or cash received from the divestitures of businesses or sales of other assets and thus do not reflect funds available for investment or other discretionary uses.

These non-GAAP financial measures, as determined and presented by the company, may not be comparable to related or similarly titled measures reported by other companies. Net debt should not be considered a substitute for total debt as reported on the balance sheet.

Set forth on the following pages are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP.

Segment EBITDA and EBITDA Margins

Segment EBITDA is defined as income (loss) from continuing operations before interest expense, income taxes, depreciation and amortization, non-controlling interests in consolidated joint ventures, loss on sale of receivables, restructuring expense and asset impairment charges. We use Segment EBITDA as the primary basis for the Chief Operating Decision Maker to evaluate the performance of each of our reportable segments. Segment EBITDA margin is defined as Segment EBITDA divided by consolidated sales from continuing operations.

 

CLICK HERE TO VIEW FINANCIAL STATEMENTS

 

CONTACTS:

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Recognizes 18 Companies with 2015 North America Supplier Partner Awards
  
Nov 12 2015

TROY, Mich. (Nov. 12, 2015)  ̶  Meritor, Inc. (NYSE: MTOR) honored 18 companies today as recipients of its second annual North America Supplier Partner Awards during a ceremony at the company’s headquarters. The suppliers, which serve Meritor’s plants in North America, achieved excellence in quality, delivery, cost savings and innovation in fiscal year 2015.

 

“We’re thanking our suppliers for helping us meet customer demand during the upturn in North America’s commercial vehicle market,” said Jon Rose, vice president, Procurement, for Meritor. “Each of these companies demonstrated a commitment to excellence in 2015 that supported our performance targets this year.”

 

The following companies received a 2015 North America Supplier Partner Award for providing a variety of components, materials and services to Meritor:

·         Active On-Demand

·         Alumalloy Metalcasting Co.

·         Atkinson International, Inc.

·         Duferco Steel, Inc.

·         Fastenal Co.

·         Freudenberg-NOK Sealing Technologies

·         Ganton International, Inc.

·         Griffin Industries 

·         HOTA Industrial Manufacturing Co. Ltd. and SOLO World Partners

·         Intercon Carriers, L.C.

·         LC Manufacturing, LLC

·         Nanjing Spring Co., Ltd.

·         National Material, L.P.

·         Pentaflex, Inc.

·         SourcePRO, Inc.

·         Vision Information Technologies, Inc.

·         Westport Axle Corp.

·         Zhumadian CIMC Huajun Casting Co., Ltd.

During the event, plant managers and other leaders from facilities across North America honored and validated recipients’ work in customized, 30-second videos that were played during each award presentation.

 

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 8,400 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.

 

 

Press ReleaseCompanyGlobal 
Meritor to Host Analyst Day in New York on Dec. 10
  
Dec 07 2015

TROY, Mich. (Dec. 7, 2015)  ̶  Meritor, Inc. (NYSE: MTOR) will host a webcast and conference call of its Analyst Day presentation from 9 a.m. until noon ET on Thursday, Dec. 10 at The St. Regis New York in New York City.

 

Investors can access the webcast (audio and slides combined) in real time by visiting the Investors section of Meritor’s website at meritor.com. To participate by conference call, dial 866-515-2909 (within the United States) or 617-399-5123 (from outside the United States)
10 minutes prior to the start of the webcast. Please reference passcode
31756493 when dialing in.

 

Investment community professionals who would like to attend the conference in person must register in advance. Email investor.relations@meritor.com by 4 p.m. ET Tuesday,
Dec. 8. If you have already registered, no action is necessary.

 

Presentation slides will be available 30 minutes prior to the event on the Presentations page of the Investors section of Meritor.com. A replay of the call will be available for 30 days on the Investors section of meritor.com.

 

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 8,400 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.

 

CONTACTS:


Media Inquiries
Cheryl Kilborn

(248) 435-7907

cheryl.kilborn@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
Meritor Appoints Dickinson Fleet Services as First Partner in Meritor Service Point Program
  
Dec 04 2015

FLORENCE, Ky. (Dec. 4, 2015) Meritor, Inc. (NYSE: MTOR) today announced Dickinson Fleet Services, LLC of Indianapolis as the first repair service partner approved for the Meritor Service Point program.

 

“Dickinson Fleet Services is a recognized service leader in the industry, and we are pleased to appoint them as our first Meritor Service Point partner,” said Steve Edie, product manager, Aftermarket for Meritor. “We see this partnership as a benefit to both companies and look forward to strengthening our brands in the marketplace as a result of this alliance.”

 

The Meritor Service Point program provides fleets and owner-operators with a network of Meritor-approved service partners. Each of these repair facilities carries quality Meritor parts installed by technicians trained with Meritor’s extensive technical expertise. Meritor is offering the program to top-performing repair facilities like Dickinson that want to deliver the highest level of service to their customers.

 

“Meritor Service Point program is a perfect fit for Dickinson because we pride ourselves on being ahead of the curve when it comes to trained technicians and quality service,” said Don Gregory, vice president, Purchasing and Asset Management for Dickinson Fleet Services. “With Meritor’s excellent reputation for quality parts and vast industry experience, we’ll be able to extend our reach even further with fleets and owner-operators across the United States.”

 

As an approved service partner, Dickinson will have access to all of Meritor’s brands, including the Meritor AllFit and Green series, Euclid and Meritor WABCO, through approved distribution partners. Dickinson will also benefit from Meritor’s comprehensive training programs, extensive support platforms and marketing and promotional programs.

 

Meritor is in discussions with additional potential program candidates and plans to announce the next approved partner in early 2016. “We look forward to growing the program and helping more repair facilities reinforce their commitment to quality with fleet customers,” said Ron Lacombe, senior manager, Business Development for Meritor.

 

About Dickinson Fleet Services

Headquartered in Indianapolis, Indiana, Dickinson Fleet Services (DFS) has grown into one of the largest independent fleet maintenance and management companies in the country. Dickinson Fleet Services is the leading provider of on-site mobile maintenance and repair services nationwide. DFS offers mobile on-site maintenance and repair services for light-, medium- and heavy-duty trucks and trailers with more than 200 mobile units operating in 40 states. DFS services several fleet customers with 18 company-owned maintenance facilities offering select services by dedicated technicians, including accident repair, paint, refurbishment and a 24/7 in-house CARES CALL center for repair assistance. DFS has made significant investments in training and technology, such as WebWrench®, which offers online maintenance tracking and scheduling through proprietary technology; and TRAIT®, a real-time reporting and dynamic preventative maintenance inspection process through a proprietary field service application. DFS is the only fleet services company to provide fleet maintenance and management to their clients nationwide. For important information, visit the company's website at dickinsonfleet.com.

About Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 8,400 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.

 

CONTACTS:


Media Inquiries
Marty Hetherington

(248) 787-6978

martin.hetherington@meritor.com

 

Investor Inquiries

Carl Anderson

(248) 435-1588

carl.anderson@meritor.com

 

Press ReleaseCompanyGlobal 
Meritor Donates $5,000 to New Freedom Center Military Lounge for Armed Forces Personnel and Families at Detroit Metropolitan Airport
  
Dec 17 2015

TROY, Mich., (Dec. 17, 2015) ̶  A $5,000 grant from Meritor, Inc. (NYSE: MTOR) is helping to fund a new Freedom Center Military Lounge that opened today in Detroit Metropolitan Airport's North Terminal.

"Meritor takes great pride in our commitment to the U.S. armed forces and the heroes who make sacrifices to protect our freedom," said Tim Burns, vice president, Defense & Specialty, North America. "We hope that active-duty warfighters and veterans passing through Detroit make good use of the Freedom Center's amenities."

The 800-square-foot reception and hospitality center, located near Gate D-17, offers comfortable seating, Internet and TV access and free beverages and snacks. It is open to all current members of the armed forces as well as veterans and family members traveling with them.

Since 2011, Meritor, Inc. has committed $75,000 from the Meritor Trust Fund to support the Freedom Center, including a $5,000 contribution for the new lounge in the North Terminal. The Freedom Center lounges are operated by the Michigan Armed Forces Hospitality Center, Inc., a nonprofit organization. Designed around a mission of "serving those who serve us," the organization's first Freedom Center opened in Detroit Metropolitan Airport's McNamara Terminal in 2011.

"More than 200,000 military personnel and their families have been hosted at this world-class reception and hospitality area," said Burns, a member of the Michigan Armed Forces Hospitality Center's board of directors. "These facilities are an expression of our gratitude for their service."

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 8,400 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.

Media Inquiries
Cheryl Kilborn
(248) 435-7907
cheryl.kilborn@meritor.com

Investor Inquiries
Carl Anderson
(248) 435-1588
carl.anderson@meritor.com

Press ReleaseCompanyGlobal 
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