Meritor

Last updated
Meritor, Inc.
FormerlyArvinMeritor
Company type Subsidiary
NYSE: MTOR
IndustryCommercial vehicles systems and components
PredecessorRockwell International
Headquarters,
U.S.
Number of locations
39 sites (2016)
Area served
Worldwide
Key people
Jennifer Rumsey (CEO)
Revenue
  • Increase2.svg US$3.34 billion (2017)
  • US$3.20 billion (2016)
  • Increase2.svg US$207 million (2017)
  • US$204 million (2016)
  • Decrease2.svg US$324 million (2017)
  • US$573 million (2016)
Total assets
  • Increase2.svg US$2.78 billion (2017)
  • US$2.49 billion (2016)
Total equity
  • Increase2.svg US$295 million (2017)
  • US$(186) million (2016)
Number of employees
8,200 [1]  (2017)
Parent Cummins
Divisions
  • Commercial Truck & Industrial
  • Aftermarket & Trailer
Website www.meritor.com

Meritor, Inc. is an American corporation headquartered in Troy, Michigan, which manufactures automobile components for military suppliers, trucks, and trailers. Meritor is a Fortune 500 company. [2]

Contents

In 1997, Rockwell International spun off its automotive business as Meritor. In 2000, ArvinMeritor was formed from the merger of Meritor Automotive, Inc., and Arvin Industries, Inc. [3] On February 1, 2011, the company announced that it would revert its name to Meritor, Inc. in late March. [4] The name change was successfully completed and launched on March 30, 2011. On February 22, 2022, Cummins announced to acquire Meritor for $3.7 billion. [5] The acquisition closed on August 3 of that year. [6]


Executive management

Charles "Chip" McClure, former president and COO of Federal Mogul Corp., served as the CEO of Meritor from 2004 to 2013. Under his management, Meritor completed the divestiture of the passenger vehicle business segment in January 2011. This officially categorized this global manufacturer/supplier outside of the automotive industry. With its focus on commercial vehicle system component production, Meritor announced continuous sales loss with total revenue at $63 million in 2011 and $52 million in 2012. In August 2013, Ivor J.”Ike” Evans was named as the interim CEO of Meritor. He had been a member of Board of Directors of Meritor Inc. since 2005 and had previously served as the president and chief operating officer of Union Pacific Railroad from 1998 to 2004, and as the vice chairman of Union Pacific Cooperation from January 2004 to 2005. In July 2015, Jeffrey "Jay" Craig was named CEO of Meritor; he was succeeded by Chris Villavarayan in 2020. [7] Jennifer Rumsey was named CEO in August 2022. [8]

Core business

The business of Meritor consists of axles, brake and safety systems, drivelines, suspensions, trailers, and aftermarket products for defense industries and commercial vehicles including truck, trailer, bus/coach, and off-highway. Meritor engineers a diverse range of products for OEMs, including Daimler, Navistar, and Volvo. [7]

Business distribution

North America

Employing more than 4700 employees, the business facilities in North America contain various distribution locations in Canada, multiple production plants in Mexico, and facilities of administration, production, distribution, sales, and technical centers in the United States. [7]

South America

The Meritor business in South America, which was established in Brazil, employed more than 1700 employees as of 2013. There are four manufacturing facilities, one distribution center, two engineering centers, three administrative offices, and one sales office. [7]

Europe

Also as of 2013, Meritor has administrative offices distributed in France, Netherlands, Russia, Switzerland, Turkey, and United Kingdom, and production facilities in Italy, Sweden, Belgium, United Kingdom, as well as France, and one sales location in Spain. [7]

Asia Pacific

Meritor builds products in Australia and Singapore, as has development joint ventures, distribution centers, and sales locations in China and India. In 2013, the company employed nearly 1800 employees in Asia Pacific region and had been present in the region for close to 30 years. [7]

Related Research Articles

<span class="mw-page-title-main">Rockwell International</span> Defunct American manufacturing conglomerate

Rockwell International was a major American manufacturing conglomerate involved in aircraft, the space industry, defense and commercial electronics, components in the automotive industry, printing presses, avionics and industrial products. At its peak, Rockwell International was No. 27 on the Fortune 500 list, with assets of over $8 billion, sales of $27 billion and 115,000 employees.

<span class="mw-page-title-main">Bosch (company)</span> German engineering and technology company

Robert Bosch GmbH, commonly known as Bosch, is a German multinational engineering and technology company headquartered in Gerlingen, Baden-Württemberg, Germany. The company was founded by Robert Bosch in Stuttgart in 1886. Bosch is 94% owned by the Robert Bosch Stiftung, a charitable institution. Although the charity is funded by owning the vast majority of shares, it has no voting rights and is involved in health and social causes unrelated to Bosch's business.

<span class="mw-page-title-main">Magna International</span> Canadian automotive supplier

Magna International Inc. is a Canadian parts manufacturer for automakers. It is one of the largest companies in Canada and was recognized on the 2020 Forbes Global 2000. The company is the largest automobile parts manufacturer in North America by sales of original equipment parts; it has ranked consistently in the Fortune Global 500 list for 20 years in a row since 2001. It produces automotive systems, assemblies, modules, and components, which are supplied to General Motors, Ford and Stellantis, as well as BMW, Mercedes, Volkswagen, Toyota, Tesla, and Tata Motors, among others.

<span class="mw-page-title-main">Textron</span> American industrial conglomerate

Textron Inc. is an American industrial conglomerate based in Providence, Rhode Island. Textron's subsidiaries include Arctic Cat, Bell Textron, Textron Aviation, and Lycoming Engines. It was founded by Royal Little in 1923 as the Special Yarns Company. In 2020, Textron employed over 33,000 people in 25 different countries. The company ranked 265th on the 2021 Fortune 500 of the largest United States corporations by revenue.

<span class="mw-page-title-main">ZF Friedrichshafen</span> German car parts maker

ZF Friedrichshafen AG, also known as ZF Group, originally Zahnradfabrik Friedrichshafen, and commonly abbreviated to ZF, is a German technology manufacturing company that supplies systems for passenger cars, commercial vehicles and industrial technology. It is headquartered in Friedrichshafen, in the south-west German state of Baden-Württemberg. Specializing in engineering, it is primarily known for its design, research and development, and manufacturing activities in the automotive industry and is one of the largest automotive suppliers in the world. Its products include driveline and chassis technology for cars and commercial vehicles, along with specialized plant equipment such as construction equipment. It is also involved in the rail, marine, defense and aviation industries, as well as general industrial applications. ZF has 162 production locations in 31 countries with approximately 168,700 (2023) employees.

<span class="mw-page-title-main">Cummins</span> American engines and related technology company

Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products. Cummins also services engines and related equipment, including fuel systems, controls, air handling, filtration, emission control, electrical power generation systems, and trucks.

<span class="mw-page-title-main">Hella (company)</span> German automotive part supplier

Hella GmbH & Co. KGaA is an internationally operating German automotive parts supplier with headquarters in Lippstadt, North Rhine-Westphalia. The company develops and manufactures lighting, electronic components, and systems for the automotive industry. It also has one of the largest trade organizations for automotive parts, accessories, diagnostics, and services within Europe.

Federal-Mogul Corporation is an American developer, manufacturer, and supplier of products for automotive, commercial, aerospace, marine, rail, and off-road vehicles, as well as industrial, agricultural, and power-generation applications. It was acquired in February 2022 by Apollo Global Management.

BorgWarner Inc. is an American automotive and e-mobility supplier headquartered in Auburn Hills, Michigan. As of 2022, the company maintains production facilities and sites at 92 locations in 24 countries, and generates revenues of US$15.8 billion, while employing around 52,000 people. The company is one of the 25 largest automotive suppliers in the world.

<span class="mw-page-title-main">Denso</span> Global automotive components manufacturer

DENSO Corporation is a global automotive components manufacturer headquartered in the city of Kariya, Aichi Prefecture, Japan.

<span class="mw-page-title-main">Niterra</span> Japanese spark plug and technical ceramics manufacturer

Niterra Co., Ltd. is a public company established in 1936 and based in Nagoya, Japan. Formerly known as NGK Spark Plug Co. Ltd., the company’s automotive business revolves around the manufacturing and the sale of spark plugs and related products for internal combustion engines, as well as vehicle electronics and ceramics for a wide range of applications in the original equipment and aftermarket industries.

<span class="mw-page-title-main">Genuine Parts Company</span> Auto/industrial/electronic parts

Genuine Parts Company (GPC) is an American service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. GPC serves numerous customers from more than 2,600 operations around the world, and has approximately 48,000 employees. It owns the NAPA Auto Parts brand.

ON Semiconductor Corporation is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.

<span class="mw-page-title-main">Valeo</span> French global automotive supplier

Valeo is a French global automotive supplier headquartered in France, listed on the Paris Stock Exchange. It supplies a wide range of products to automakers and the aftermarket. The Group employs 113,600 people in 29 countries worldwide. It has 186 production plants, 66 R&D centers and 15 distribution platforms. In 2018, Valeo's sales rose 4% to €19.1 billion. It frequently ranks as France's leading patent filer.

<span class="mw-page-title-main">Littelfuse</span> American electronic manufacturing company

Littelfuse, Inc. is an American electronics manufacturing company headquartered in Chicago, Illinois. The company primarily produces circuit protection products (fuses) but also manufactures a variety of switches, automotive sensors and, through its subsidiary Zilog, microprocessors. Littelfuse was founded in 1927. In addition to its Chicago, Illinois, world headquarters, Littelfuse has more than 40 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia. Littelfuse is the developer of AutoFuse, the first blade-type automotive fuse.

WABCO Holdings, Inc. was a U.S.-based provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. In 2007, the Vehicle Control Systems was spun off as WABCO Holdings Inc., an American provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. Their products are present in many commercial vehicles such as trucks, buses, trailers and off-highway vehicles but they only fill the niche roles. WABCO was acquired by ZF Friedrichshafen in May 2020.

Inteva Products, LLC is a global automotive supplier. Serving original equipment manufacturers (OEMs) in the automotive industry, Inteva is headquartered in Troy, Michigan and has nearly 30 locations on three continents. The Inteva Products brand name was introduced to the marketplace in 2008 and the company traces its history back to the establishment of German carriage supplier Traugott Golde in 1872.

ANAND Group is an Automotive Industry company, with headquarters in Delhi, India. It manufactures as well as supplies automotive systems and components.

Fisker Inc. is an American automotive company founded by Danish automotive designer Henrik Fisker and his wife Geeta Gupta-Fisker.

JM Family Enterprises, Inc. (JMFE) is a diversified automotive company. It is ranked by Forbes as the 17th largest privately held company in the U.S. The company is ranked on the Fortune "100 Best Companies to Work For" list, and was No. 9 on the InformationWeek 500 list of the nation's leading information technology innovators.

References

  1. "Brink's". Fortune. Archived from the original on 2019-02-20. Retrieved 2019-02-19.
  2. "Fortune 500 2006: ArvinMeritor". CNN. Retrieved 2006-11-11.
  3. "ArvinMeritor history" . Retrieved 2012-09-11.
  4. Woodall, Bernie (February 1, 2011). "UPDATE 1-ArvinMeritor posts loss, changing name". Reuters.
  5. Gardner, Greg (2022-02-22). "Cummins Buying Meritor In $3.7 Billion Deal, Accelerating Auto Supplier Consolidation". Forbes. Retrieved 2022-06-17.
  6. "Cummins completes acquisition of Meritor". Cummins. 2022-08-03. Retrieved 2022-08-24.
  7. 1 2 3 4 5 6 "meritor". meritor.com. meritor inc. 2013. Retrieved 16 September 2013.
  8. "Cummins Announces Jennifer Rumsey as CEO". 27 July 2022.

Official website