Transportation
N.A. Decline in Truck Orders Not Surprising
COLUMBUS and BLOOMINGTON, IN - Orders for both medium-duty and heavy-duty trucks in North America posted declines, according to two newly released preliminary reports, but the markets remain healthy. For the month of June, 34,600 Classes 5-8 vehicle orders were booked, down 14% from May and 17% less compared to June 2014, according to ACT Research. The commercial vehicle industry data provider said it believes the recent order decline is a reflection of meaningfully larger backlogs rather than any structural change in demand.
Stemco Completes Goodyear Springs Purchase
LONGVIEW, TX - Less than a month after the truck component supplier Stemco announced its intention to acquire the manufacturer of Goodyear air springs, it completed the deal on July 1. Terms of the transaction have not been released. With the acquisition, Stemco acquires the Super Cushion and Spring Ride lines of truck, trailer and truck cab suspension products, as well as cab seat springs from ContiTech, a division of Continental Corp. This unit was part of the business called Veyance that was recently acquired by Continental. Also included in the acquisition are the Veyance manufacturing facility in San Luis Potosi, Mexico, the Veyance research and development operations in Fairlawn, Ohio, and all North America related patents and applications.