COLUMBUS, Ind. — Cummins Inc. announced Wednesday that it has completed its acquisition of Meritor, Inc., 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,” Cummins Inc. stated in a press release.
Cummins financed the acquisition, which had a total transaction value of approximately $3.7 billion, including assumed debt and net of acquired cash, using a combination of cash on the Cummins balance sheet, commercial paper, and debt. Meritor acquired Arvin industries of Columbus in July 2000.
