TROY, Mich., May 7, 2014 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) and Brakes India, Ltd. today announced the signing of a Licensing and Technology Assistance Agreement for the manufacture and sale of Meritor ELSA air disc brakes in India.
The agreement, which expands on an existing licensing agreement for B-frame hydraulic disc brakes, air drum and air disc brakes, builds on the long-term, successful cooperation between both companies in the Indian market.
More than 5 million Meritor ELSA brakes have been sold globally, demonstrating the markets' confidence in this technology. In India, ELSA 225H air disc brakes have been operating on major fleets for several years and have gained acceptance as a cost-effective and reliable safety improvement, particularly for buses and coaches.
About Brakes India
Brakes India Limited is the leading manufacturer of braking systems in India for the automotive industry with a sales turnover in excess of Rs. 30 billion or more than $500 million. Established in 1962 as a joint venture between TVS group and Lucas Industries plc (now integrated with TRW) Brakes India has grown steadily to become a leading brake system supplier to global OEMs operating in India. With design, development and manufacturing capability that matches global standards in quality and safety, Brakes India is capable of providing full braking system technology from concept to completion.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-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 more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.
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