Iochpe-Maxion acquires wheels business of ArvinMeritor

Thu. September 24, 2009; Posted: 02:18 PM

Sep 24, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- ARM | Quote | Chart | News | PowerRating -- Iochpe-Maxion S.A. has acquired wheels business of ArvinMeritor, Inc. in Brazil, Mexico, and the US.

Iochpe-Maxion is a Brazil-based producer of wheels and frames for commercial vehicles, railway freight cars, and castings, while ArvinMeritor is a US-based manufacturer of automotive systems, modules, and components.

Announcement (August 4, 2009):

Iochpe-Maxion has signed a purchase and sale agreement to acquire wheels business of ArvinMeritor in Brazil, Mexico, and the US for approximately $180 million.

The wheels business of ArvinMeritor produces Fumagalli (TM) steel wheels for passenger cars, pick-up trucks, sport utility, and light and medium commercial vehicles. The business comprises a Brazilian wheels plant in the city of Limeira; a Mexican wheels plant in the city of San Luis Potosi; and customer support office for North American business, located in Troy, Michigan, US.

Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to Iochpe-Maxion.

Deal Value (US$ Million) 180
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Completed: 2009-09-21

Deal Participants

Target (Company)   ArvinMeritor, Inc. - Wheels Business
Acquirer (Company) Iochpe-Maxion S.A.
Vendor (Company)   ArvinMeritor, Inc.

For full details on Arvinmeritor Inc (ARM) click here. Arvinmeritor Inc (ARM) has Short Term PowerRatings of 6. Details on Arvinmeritor Inc (ARM) Short Term PowerRatings is available at This Link.

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