ArvinMeritor to Invest up to $10 Million in Brazil
Vehicle parts maker ArvinMeritor Inc. said it will invest up to $10 million in its commercial vehicle business in Brazil.
Chief Executive Officer Chip McClure said the investment is part of company’s “focus on becoming a global commercial vehicle company.”
Its production in South America is up 9% from a year ago, he said in a statement.
The company announced last week that it had reached a deal to sell its wheels business to Brazilian firm Iochpe-Maxion, which has manufacturing facilities in Brazil and Mexico, for $180 million.
Transport Topics