CAMBRIDGE, Ont. – The IMT Group has announced it has sold its light-, medium- and heavy-duty axle business to Dexter Axle Company.
The divisions included in the sale include the Ingersoll Axles division of IMT Partnership in Ingersoll, Ont. and Indianapolis, Ind., and the light-duty axles division of IMT Standen’s Limited Partnership based in Calgary, Alta.
“This is a very positive development for IMT’s axle businesses,” said Jim Hacking, chief executive officer of the IMT Group. “Ingersoll Axles and Standen’s are leaders in the axle business in Canada. Dexter is a global leader in highly engineered trailer products and chassis assemblies. This transaction will represent another significant expansion for Dexter and will give our IMT axle products increased market exposure.”
IMT says there will be no disruptions for customers, suppliers or employees during the transition. Dexter manufactures trailer axles and brakes at multiple facilities in the US. The acquisition marks its expansion into Canada.