TROY, Mich., March 31, 2016 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced a new five-year agreement with Navistar. Under the terms of the agreement, Meritor retains standard position for brakes and rear axles, as well as standard position for front axles in severe service, medium-duty and bus applications.
"This new contract signifies our continued partnership with this important customer," said Chris Villavarayan, president, Americas for Meritor. "As we launch our M2019 strategy this year, this business builds on the strong foundation we've established to supply Meritor products to the leading truck manufacturers around the world and provides further opportunities for growth."
Villavarayan continued, "This five-year partnership also allows Meritor the opportunity to collaborate with Navistar on its Open Integration initiative using future technologies and designs that will provide improvements in the total cost of ownership for our end-user customers."
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 approximately 8,400 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 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.
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SOURCE Meritor, Inc.