ArvinMeritor sells assets for $35 million
ArvinMeritor received $35 million from the sale of assets related to manufacturing and distribution of noncore off-highway planetary axle products. The company sold the assets to Chicago-based buyout firm Wynnchurch Capital Ltd. Manufacturing plants affected include plants in Oshkosh, Wis., St. Etienne, France, Osasco, Brazil and Seoul, South Korea.
Caterpillar to supply $1.5 billion of mining equipment
Heavy machinery manufacturer Caterpillar recently announced plans to supply BHP Billiton with $1.5 billion of mining equipment and support. The plan is a part of a five-year alliance between the two companies.
Truck chassis manufacturer Dana Corp. to close plant
Dana Corp. recently announced the closing of its truck chassis plant in Kershaw County, South Carolina. The closure will result in the loss of about 100 jobs. The company said it felt economic repercussions from the closure of the Mack Trucks assembly plant in Winnsboro and a steep decline in truck sales.
Komatsu to close Peoria plant temporarily
Komatsu plans to temporarily shut down its Peoria, Ill. plant in April for a minimum of three months. The closure will affect 350 employees at the plant, which manufactures Komatsu’s large mining trucks. Komatsu blames the downturn in the economy and the slump in mining for the shut down.