Meritor (MTOR) Acquires TransPower
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Meritor Acquires TransPower, Advancing its Electrification Expertise
January 16, 2020 4:30 PM UTCTROY, Mich., Jan. 16, 2020 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced that it has acquired all the outstanding common shares of Transportation Power, Inc. ("TransPower"). Terms of the transaction were not disclosed.Â
"We are excited to welcome TransPower to the Meritor family as we continue providing our customers with sophisticated electric drivetrain solutions," said Jay Craig, Meritor's CEO and president. "This acquisition enables us to further position the company as a premier supplier of electrification technologies for commercial vehicles."
With the addition of TransPower's product portfolio, Meritor advances its M2022 priorities through increased investment... More
