PRNewswire 6-Dec-2018 8:00 AM
TROY, Mich., Dec. 6, 2018 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced a new strategic supply agreement with The Manitowoc Co., Inc., one of the world's largest providers of lifting equipment for the global construction industry, to deliver multiple drivetrain products and solutions including planetary axles to the manufacturer.
Meritor products will be featured on several crane types across Manitowoc's extensive portfolio. "As the mobile crane market continues to strengthen, this agreement positions Meritor as a key supplier to support crane production under Manitowoc's Grove™ brand," said Joe Muscedere, vice president, Off Highway, Specialty & Defense, North America for Meritor. "It also reinforces our commitment to invest and expand our position in off-highway markets."
Steve Luepke, director, Off-Highway for Meritor, said, "Meritor's strength in manufacturing and vertical integration supports the reduced lead times required to be successful in growing markets. The agreement between Meritor and Manitowoc extends and solidifies a mutually beneficial relationship that will have long-term impact for both companies."
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 8,600 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/meritor-announces-strategic-supply-agreement-with-manitowoc-cranes-300760913.html
SOURCE Meritor, Inc.
Limited Time Offer:
Claim your free copy of income expert Bryan Perry's new report:
My Top Monthly Dividend Payer (8% Dividend Yield)
You'll also receive Bryan Perry's weekly e-letter, Dividend Investing Weekly, at no cost, along with other associated financial content and special offers.