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Benzinga
Benzinga
Business
Shivani Kumaresan

Meritor Inks Collaboration Agreement With ConMet For Zero-Emission Trailers

NYSE
  • Meritor Inc (NYSE:MTOR) has partnered with ConMet to develop purpose-built trailer suspensions and brakes. Financial terms were not disclosed.
  • ConMet, a division of Amsted Industries, is a supplier of wheel hubs, aluminum castings, and structural plastics in the commercial vehicle industry.
  • The collaboration will also develop tire inflation systems to work with ConMet's PreSet Plus eHub.
  • The partnership is aimed to enable the production of zero-emissions refrigerated trailers. The companies will also continue to jointly evaluate the application of advanced technologies that address evolving e-mobility market trends.
  • Price Action: MTOR shares closed higher by 0.95% at $36.10 on Thursday.
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