ArvinMeritor announces sale of Body Systems business
ArvinMeritor, Inc. today announced that it has completed the sale of its Body Systems business to an affiliate of Inteva Products, LLC. The estimated purchase price at closing was $27.27 million, consisting of $12.27 million in cash at closing and a promissory note for $15 million, and is subject to adjustment for actual balances in working capital and other items.
ArvinMeritor Inc., which makes parts for both commercial and light vehicles, on Tuesday backed its previous fiscal 2008 outlook, predicting higher overseas demand and currency exchange benefits.