TROY, Mich. — ArvinMeritor has signed a definitive agreement to sell its Emissions Technologies business group to One Equity Partners (OEP), an equity investment firm based in New York. Cash and other consideration total approximately $310 million. The transaction is expected to be completed in the third quarter of fiscal year 2007.
“The decision to sell our Emissions Technologies business is part of our long-term strategy to refocus our company and concentrate on the strengths and core competencies that will generate future earnings growth for ArvinMeritor,” said president and CEO, Charles G. “Chip” McClure. “The proceeds from this sale will support our continued efforts to strengthen our balance sheet, and increase our ability to invest in technology, research and development that more closely aligns with our strategic focus on selected vehicle systems.”
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