TROY, Mich. — Meritor, Inc. (NYSE: MTOR) announced on Jan. 16 that it has acquired all of the outstanding common shares of electric integrated drive systems manufacturer Transportation Power, Inc. Terms of the transaction were not disclosed.
“We are excited to welcome TransPower to the Meritor family as we continue providing our customers with sophisticated electric drivetrain solutions,” said Jay Craig, Meritor’s CEO and president. “This acquisition enables us to further position the company as a premier supplier of electrification technologies for commercial vehicles.”
With the addition of TransPower’s product portfolio, Meritor advances its M2022 priorities through increased investment in next-generation technologies. It also further establishes the value of Meritor’s Blue Horizon brand, which represents the company’s emerging platform of advanced technologies that are centered on electrification.
TransPower, a California-based company, supplies integrated drive systems, full electric truck solutions and energy-storage subsystems to major manufacturers of trucks, school buses, refuse vehicles and terminal tractors. The company has been focused exclusively on developing electrical drive solutions since its inception in 2010.
About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers worldwide.
Meritor, which is based in Troy, Mich., has approximately 9,100 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. www.meritor.com
