TROY, MI — ArvinMeritor today announced it has sold its North American Light Vehicle Aftermarket (LVA) exhaust business based in Loudon, TN, and Moncton, New Brunswick, Canada, to IMCO (International Muffler Company), a producer of aftermarket exhaust systems and components based in Schulenburg, TX.
Terms of the agreement were not disclosed.
This latest move follows the news from late February, when ArvinMeritor announced it was selling its Light Vehicle Aftermarket Purolator filters business to MANN+HUMMEL $170 million in cash.
Commenting on the sale, Chip McClure, ArvinMeritor chairman, president and CEO, said, “This transaction will further enhance ArvinMeritor’s goal to strengthen our financial position and focus on our core operations. This sale also provides the LVA exhaust group the opportunity to grow with IMCO.”
The divestiture affects approximately 500 employees at the Loudon and Moncton facilities.
For more information about IMCO, go to: www.imcoweb.com .
To learn more about ArvinMeritor, visit: www.arvinmeritor.com .
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