UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 2, 2012
MERITOR,
INC.
(Exact name of registrant as specified in its
charter)
Indiana | 1-15983 | 38-3354643 | ||
(State or other jurisdiction | (Commission | (IRS Employer | ||
of incorporation) | File No.) | Identification No.) |
2135 West Maple
Road
Troy,
Michigan
(Address of principal
executive offices)
48084-7186
(Zip code)
Registrants telephone number, including area code: (248) 435-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
On January 2, 2012, Meritor, Inc. announced that it has completed the sale of the assets of its axle operation in Saint Priest, France, to Renault Trucks SAS. Terms of the sale were not disclosed. The press release is attached as an exhibit to this Current Report on Form 8-K.
The information in this Item 8.01 of Form 8-K and the exhibit attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99a Press Release of Meritor, Inc. dated January 2, 2012
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MERITOR, INC. | |||
Date: | By: | /s/ | Vernon G. Baker, II |
January 2, 2012 | Vernon G. Baker, II | ||
Senior Vice President and General Counsel |
EXHIBIT INDEX
99a Press Release of Meritor, Inc. dated January 2, 2012
CONTACTS: Media
Inquiries
Malte Raddatz
+49 175 36 83
001
malte.raddatz@meritor.com
Robert Herta
(248)
435-1185
robert.herta@meritor.com
Investor Inquiries
Christy Daehnert
(248) 435-9426
christy.daehnert@meritor.com
Meritor Announces Sale of St. Priest, France, Manufacturing Operation to Renault Trucks
Divestiture Further Optimizes Meritors European Footprint
SAINT PRIEST, France (Jan. 2, 2012) Meritor, Inc. (NYSE: MTOR) today announced that it has completed the sale of the assets of its axle operation in Saint Priest, France, to Renault Trucks SAS. Terms of the sale were not disclosed.
We believe this transaction takes us another step toward optimizing our footprint in Europe, said Chairman, CEO and President Chip McClure. We will retain and continue to invest in our Lindesberg, Sweden, and Cameri, Italy, axle facilities with new housing technology, laser welding lines for our 17X and 18x carriers, robotic automations and advanced gear manufacturing capability.
Renault Trucks is expected to perform only final dressing and painting in the St. Priest, France, operation. The divestiture affects nearly 400 employees at the France facility who will transfer to Renault Trucks.
McClure added, Completing the sale of the St. Priest operation supports our long-term strategy to position the company for profitable future growth.
The companys facility in Cwmbran, United Kingdom, continues to be home to Meritors center of expertise for the design, development and manufacture of advanced braking systems and components for the commercial vehicle truck market.
About Meritor, Inc.
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 in
more than 70 countries. Meritor is based in Troy, Mich., United States, and is
made up of more than 11,000 diverse employees who apply their knowledge and
skills in manufacturing facilities, engineering centers, joint ventures,
distribution centers and global offices in 19 countries. Common stock is traded
on the New York Stock Exchange under the ticker symbol MTOR. For important
information, visit the company's web site at meritor.com.
Forward-Looking
Statements
This release contains statements relating to future results of the
company (including certain projections and business trends) that are
forward-looking statements as defined in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are typically identified by words
or phrases such as believe, expect, anticipate, estimate, should, are
likely to be, will and similar expressions. Actual results may differ
materially from those projected as a result of certain risks and uncertainties,
including but not limited to our ability to successfully manage steeply
increasing volumes in the commercial truck markets, including working with our
customers to adjust their demands in light of the rapid acceleration of
production: availability and sharply rising costs of raw materials, including
steel, and our ability to manage or recover such costs; reduced production for
certain military programs and the return of volumes of selected long-term
military contracts to more normalized levels; global economic and market cycles
and conditions, including the recent global economic crisis; risks inherent in
operating abroad (including foreign currency exchange rates and potential
disruption of production and supply due to
terrorist attacks or acts of aggression); the
ability to achieve the expected benefits of restructuring actions; the demand
for commercial and specialty vehicles for which we supply products; whether the
liquidity of the company will be affected by declining vehicle productions in
the future; OEM program delays; demand for and market acceptance of new and
existing products; successful development of new products; reliance on major OEM
customers and possible negative outcomes from contract negotiations with our
major customers; labor relations of the company, its suppliers and customers,
including potential disruptions in supply of parts to our facilities or demand
for our products due to work stoppages; the financial condition of the companys
suppliers and customers, including potential bankruptcies; possible adverse
effects of any future suspension of normal trade credit terms by our suppliers;
potential difficulties competing with companies that have avoided their existing
contracts in bankruptcy and reorganization proceedings; successful integration
of acquired or merged businesses; the ability to achieve the expected annual
savings and synergies from past and future business combinations; success and
timing of potential divestitures; potential impairment of long-lived assets,
including goodwill; potential adjustment of the value of deferred tax assets;
competitive product and pricing pressures; the amount of the companys debt; the
ability of the company to continue to comply with covenants in its financing
agreements; the ability of the company to access capital markets; credit ratings
of the companys debt; the outcome of existing and any future legal proceedings,
including any litigation with respect to environmental or asbestos-related
matters; the outcome of actual and potential product
liability, warranty and recall claims; rising costs of pension and other
postretirement benefits; and possible changes in accounting rules; as well as
other substantial costs, risks and uncertainties, including but not limited to
those detailed herein and from time to time in other filings of the company with
the SEC. These forward-looking statements are made only as of the date hereof,
and the company undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or otherwise,
except as otherwise required by law.