US auto parts supplier ArvinMeritor will sell its auto body system business to a subsidiary of Renco Group, the US privately held group, for US$35 million.
ArvinMeritor CEO Chip McClure said that ArvinMeritor sold the body system business to focus on other core businesses.
ArvinMeritor’s 5,000 employees in 14 countries around the world will be affected by the sale.
ArvinMeritor recently announced its profitability in the previous quarter (April to June). Data show that ArvinMeritor's revenue rose by 35.4% year-on-year, from the 942 million US dollars in the same period in 2009 rose 1.275 billion US dollars; pre-tax profit from the loss of 21 million US dollars in the same period in 2009 rose to 31 million US dollars; net loss substantially narrowed , from 164 million U.S. dollars in the same period in 2009 to 3 million U.S. dollars.
ArvinMeritor CEO Chip McClure said that ArvinMeritor sold the body system business to focus on other core businesses.
ArvinMeritor’s 5,000 employees in 14 countries around the world will be affected by the sale.
ArvinMeritor recently announced its profitability in the previous quarter (April to June). Data show that ArvinMeritor's revenue rose by 35.4% year-on-year, from the 942 million US dollars in the same period in 2009 rose 1.275 billion US dollars; pre-tax profit from the loss of 21 million US dollars in the same period in 2009 rose to 31 million US dollars; net loss substantially narrowed , from 164 million U.S. dollars in the same period in 2009 to 3 million U.S. dollars.
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