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Meritor Announces Termination of Distribution Agreement with WABCO Holdings Subsidiary

March 16, 2020 at 8:15 AM EDT

TROY, Mich., March 16, 2020 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced that the distribution agreement between Meritor and a subsidiary of WABCO Holdings, Inc. has been terminated, effective March 13, 2020. Meritor was paid $265 million in connection with the termination of the agreement.

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 around the world. Meritor is based in Troy, Mich., United States, and is made up of 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. For important information, visit the company's website at www.meritor.com.

Meritor, Inc. logo. (PRNewsFoto/Meritor, Inc.) (PRNewsfoto/Meritor, Inc.)

 

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SOURCE Meritor, Inc.

Media Inquiries, Krista Sohm, (248) 435-7115, krista.sohm@meritor.com, Investor Inquiries, Todd Chirillo, (248) 435-1571, todd.chirillo@meritor.com