US company, Meritor, has announced its acquisition of vehicle part supplier, Fabco Holdings.
With the addition of Fabco’s suite of products, Meritor will have an expanded portfolio of complementary products, including transfer cases, specialty gear boxes, auxiliary transmissions and power take off units (PTOs) for medium, heavy and extra heavy vehicles for on- and off-highway, construction, defence, rail and other industrial applications.
This transaction will reportedly allow Meritor to offer global customers a wider breadth of capabilities and an expanded portfolio of complementary products.
“Acquiring this suite of products and technologies provides Meritor with new products and customers in important markets that we expect will contribute to significant growth in our Specialty, Defence and Off-Highway business units,” said Meritor CEO and President, Jay Craig. “This transaction fits well with our plan to pursue strategic growth initiatives, while maintaining a balanced approach to capital allocation as part of our M2019 plan.”