Commercial Vehicle Components LLC. has announced that it has entered into an agreement to repurchase STEMCO’s disc brake manufacturing facility as well as the Lunar disc brake product line. Jack Mitchell, Gina Morse, Peter Morse and Daniel Morse will reunite as the leadership of Commercial Vehicle Components LLC, which they previously sold to STEMCO in October 2017.
The acquisition is subject to regulatory approval in China and is expected to take 4 to 6 weeks to complete. Manufacturing lines for air disc brakes as well as hydraulic disc brakes, inventory, brands, intellectual property and patents are included in the transaction.
“We are excited to own our friction facility again, said Jack Mitchell, COO. With its great operation and formulas, we will grow the company into a world class supplier.”