Meritor
{{short description|American truck parts manufacturer}}
{{Infobox company
| name = Meritor, Inc.
| logo = Meritor logo.svg
| former_name = ArvinMeritor (2000–2011)
| type = Subsidiary
| traded_as = {{NYSE was|MTOR}} (delisted 2022)
| industry = Commercial vehicles systems and components
| predecessor = {{Unbulleted list | Rockwell International | Arvin Industries }}
| founded = {{Start date and age|1997}}
| key_people = Jennifer Rumsey (CEO)
| hq_location_city = Troy, Michigan
| hq_location_country = U.S.
| num_locations = 39 (2016)
| area_served = Worldwide
| parent = Cummins (2022–present)
| products =
| revenue = {{Unbulleted list|{{increase}} US$3.34 billion (2017)|US$3.20 billion (2016)}}
| operating_income = {{Unbulleted list|{{increase}} US$207 million (2017)|US$204 million (2016)}}
| net_income = {{Unbulleted list|{{decrease}} US$324 million (2017)|US$573 million (2016)}}
| assets = {{Unbulleted list|{{increase}} US$2.78 billion (2017)|US$2.49 billion (2016)}}
| equity = {{Unbulleted list|{{increase}} US$295 million (2017)|US$(186) million (2016)}}
| num_employees_year = 2017
| divisions = {{Unbulleted list|Commercial Truck & Industrial|Aftermarket & Trailer}}
| website = {{url|www.meritor.com}}
| footnotes =
}}
Meritor, Inc. is an American corporation headquartered in Troy, Michigan, which manufactures automobile components for military suppliers, trucks, and trailers. Meritor is a Fortune 500 company.{{cite news|url=https://money.cnn.com/magazines/fortune/fortune500/snapshots/1633.html|title=Fortune 500 2006: ArvinMeritor|accessdate=2006-11-11 | work=CNN}}
In 1997, Rockwell International spun off its automotive business as Meritor. In 2000, ArvinMeritor was formed from the merger of Meritor Automotive, Inc., and Arvin Industries, Inc.{{cite web|url=http://www.meritor.com/ourcompany/history/default.aspx|title=ArvinMeritor history|accessdate=2012-09-11}} On February 1, 2011, the company announced that it would revert its name to Meritor, Inc. in late March.{{cite news| url=https://www.reuters.com/article/arvinmeritor-idUSN0129143020110201?feedType=RSS&feedName=cyclicalConsumerGoodsSector&rpc=43 | work=Reuters | first=Bernie | last=Woodall | title=UPDATE 1-ArvinMeritor posts loss, changing name | date=February 1, 2011}} The name change was successfully completed and launched on March 30, 2011. On February 22, 2022, Cummins announced to acquire Meritor for $3.7 billion.{{cite news |last=Gardner |first=Greg |date=2022-02-22 |title=Cummins Buying Meritor In $3.7 Billion Deal, Accelerating Auto Supplier Consolidation |url=https://www.forbes.com/sites/greggardner/2022/02/22/cummins-to-acquire-meritor-in-37-billion-deal-accelerating-auto-supplier-consolidation/?sh=289103c75809 |work=Forbes |access-date=2022-06-17}} The acquisition closed on August 3 of that year.{{cite news |last= |first= |date=2022-08-03 |title=Cummins completes acquisition of Meritor |url=https://www.cummins.com/news/releases/2022/08/03/cummins-completes-acquisition-meritor |work=Cummins |access-date=2022-08-24}}
Executive management
Charles "Chip" McClure, former president and COO of Federal Mogul Corp., served as the CEO of Meritor from 2004 to 2013. Under his management, Meritor completed the divestiture of the passenger vehicle business segment in January 2011. This officially categorized this global manufacturer/supplier outside of the automotive industry. With its focus on commercial vehicle system component production, Meritor announced continuous sales loss with total revenue at $63 million in 2011 and $52 million in 2012.
In August 2013, Ivor J.”Ike” Evans was named as the interim CEO of Meritor. He had been a member of Board of Directors of Meritor Inc. since 2005 and had previously served as the president and chief operating officer of Union Pacific Railroad from 1998 to 2004, and as the vice chairman of Union Pacific Cooperation from January 2004 to 2005. In July 2015, Jeffrey "Jay" Craig was named CEO of Meritor; he was succeeded by Chris Villavarayan in 2020.{{cite web |url=http://www.meritor.com |title=meritor |year=2013 |website=meritor.com |publisher=meritor inc |accessdate=16 September 2013}} Jennifer Rumsey was named CEO in August 2022.{{cite web |url=https://www.enginebuildermag.com/2022/07/cummins-announces-jennifer-rumsey-as-ceo/ |title=Cummins Announces Jennifer Rumsey as CEO |date=27 July 2022 }}
Core business
The business of Meritor consists of axles, brake and safety systems, drivelines, suspensions, trailers, and aftermarket products for defense industries and commercial vehicles including truck, trailer, bus/coach, and off-highway. Meritor engineers a diverse range of products for OEMs, including Daimler, Navistar, and Volvo.
=Business distribution=
==North America==
==South America==
==Europe==
==Asia Pacific==
References
{{reflist}}
External links
{{official|https://www.meritor.com}}
{{Finance links historical
| name = Meritor, Inc.
| sec_cik = 1113256
}}
{{Authority control}}
Category:Companies formerly listed on the New York Stock Exchange
Category:Automotive transmission makers
Category:Auto parts suppliers of the United States
Category:Manufacturing companies based in Michigan
Category:Companies based in Troy, Michigan
Category:Automotive companies established in 1997