ArvinMeritor Inc has signed a definitive agreement to sell its Commercial Vehicle Systems (CVS) facility in Kenton OH to a subsidiary of Sypris Solutions Inc, which is headquartered in Louisville KY.
Divestiture of this facility will enable ArvinMeritor to concentrate on its core processes for the design and assembly of complete systems — consisting of axles, brakes, suspensions, tire inflation, and ride control. As part of the agreement, ArvinMeritor and Sypris will begin a multi-year outsourcing arrangement.
Sypris provides outsourced services and specialty products. Its core markets include aerospace and defense electronics, truck components and assemblies, and test and measurement services.