Global power and technology leader Cummins announced that it has completed its acquisition of Meritor, a global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets.
The integration of Meritor’s people, products and capabilities in axle and brake technology will position Cummins as a leading provider of integrated powertrain solutions across internal combustion and electric power applications, the company said. As demand for decarbonized solutions accelerates, ePowertrains will be a critical integration point within hybrid and electric drivetrains, creating packaging and performance differentiation and the opportunity to provide advanced clean mobility products for customers. As that’s happening, Cummins said it intends to deliver market-leading decarbonized solutions to global customers by accelerating Meritor’s investment in electrification and integrating development within its New Power business.
The acquisition of Meritor also adds products to Cummins’ components business that present growth opportunities across the company’s range of power solutions and applications. Cummins expects to utilize its global footprint to accelerate the growth of these core axle and brake businesses by serving commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world.
“We are excited to welcome Meritor’s employees into Cummins,” said Jennifer Rumsey, Cummins’ president and CEO. “Together, Cummins and Meritor will move further and faster in developing economically viable decarbonized powertrain solutions that are better for people and our planet.”
The acquisition was valued at $3.7 billion.