Meritor Announces Standard Position Agreement with Terex Advance Mixer

Rhea-AI Summary

Meritor, Inc. (NYSE: MTOR) has secured a standard position agreement with Terex Advance Mixer to supply front- and rear-drive axles. The deal includes the MX23-810™ front-drive axle with EX+™ air disc brakes and other axles with drum brakes or optional air disc brakes. This partnership enhances Meritor's commitment to expand its industrial business, emphasizing safety and customer support. Terex Advance Mixer expresses enthusiasm for the ongoing collaboration, highlighting the shared goal of delivering best-in-class performance.

Positive

• Secured a standard position agreement with Terex Advance Mixer to supply front- and rear-drive axles.
• Includes advanced axle technology like MX23-810™ with EX+™ air disc brakes.
• Strengthens strategic relationship with a focus on safety, quality, and customer support.

Negative

• None.

TROY, Mich., Nov. 19, 2020 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced it has been awarded a standard position agreement with Terex Advance Mixer to supply front- and rear-drive axles. Under the agreement, Meritor will supply its MX23-810™ front-drive axle with standard EX+™ air disc brakes, MX23-160™ front-drive axle and RT46-160™ rear-drive axle both with drum brakes or optional EX+™ air disc brakes.

"With this agreement, we'll deliver proven drivetrain solutions for Terex concrete mixers, expanding our strategic relationship with a company that values safety, quality and customer support," said Matt Wolfe, vice president of Industrial. "It's another example of Meritor's commitment to grow its Industrial business as a key priority within its corporate strategy." 

"Meritor is a trusted and valued partner that has provided us with front and rear axles for years. We are excited for the continued and expanded partnership," said John Leech, general manager of Terex Advance Mixer. "As a leader in front discharge trucks, we look forward to equipping our mixers with the leading technology in the heavy-duty axle industry. Together, we can continue to provide best-in-class performance, quality and service to our customer base."

About Terex
Terex Corporation is a global manufacturer of lifting and material processing products and services delivering lifecycle solutions that maximize customer return on investment. Major Terex brands include Terex, Genie, and Powerscreen. Terex solutions serve a broad range of industries, including construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utilities, quarrying and mining. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information about Terex is available on its website: www.Terex.com, on its LinkedIn page – www.linkedin.com/company/terex and Facebook page -- www.facebook.com/TerexCorporation.

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 7,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.

 

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SOURCE Meritor, Inc.

FAQ

What is the recent agreement between Meritor and Terex Advance Mixer?

Meritor has been awarded a standard position agreement to supply front- and rear-drive axles to Terex Advance Mixer.

What axles will Meritor provide under the new agreement?

Meritor will provide the MX23-810™ front-drive axle with EX+™ air disc brakes, and other axles with drum or optional air disc brakes.

How does this agreement impact Meritor's business strategy?

This agreement underscores Meritor's commitment to growing its Industrial business as a key priority within its corporate strategy.

What date was the agreement with Terex Advance Mixer announced?

The agreement was announced on November 19, 2020.