Meritor, a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicles has announced that it has completed the sale of the assets of its axle operation in Saint Priest, France, to Renault Trucks SAS.
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.
CEO and President Chip McClure said
“Completing the sale of the St. Priest operation supports our long-term strategy to position the company for profitable future growth.”
“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.”
Last month, Volvo said it deliver the condensed work-week for employees during the Renault Trucks section as it looks to regulate prolongation to an approaching tumble in demand.
In other news, wedish truck maker Scania AB will cut global production by 15% from January due to a continued slowdown in demand for heavy-goods vehicles as global economic growth splutters. It is the second time the company has scaled back production in the past two months.