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Meritor, Inc. (NYSE: MTOR) is a globally recognized leader in providing innovative drivetrain, mobility, braking, aftermarket, and electric powertrain solutions. With over 110 years of experience, Meritor is renowned for delivering superior performance, efficiency, and reliability. The company caters to a diverse range of markets, including commercial trucks, trailers, off-highway vehicles, defense, specialty sectors, and aftermarket services.
Headquartered in Troy, Michigan, Meritor operates with a robust workforce of more than 8,600 employees. These professionals are spread across manufacturing facilities, engineering centers, joint ventures, distribution centers, and global offices in 19 countries, ensuring a broad and efficient service network.
Meritor's product portfolio is extensive, featuring advanced drivetrain systems, high-performance braking solutions, and cutting-edge mobility and electric powertrain systems. The company's continuous commitment to innovation is evident in its recent achievements and ongoing projects, including significant advancements in electric powertrain technologies aimed at enhancing vehicle efficiency and sustainability.
Financially, Meritor has demonstrated consistent growth and stability, supported by strategic partnerships and collaborations. The company’s commitment to excellence has earned it a strong reputation among its global clientele. Notably, Meritor's recent integration into Cummins Inc. marks a significant milestone, poised to amplify its technological capabilities and market reach.
Meritor's dedication to quality and customer satisfaction has positioned it as a trusted supplier in the commercial vehicle and industrial markets. The company's strategic initiatives and forward-looking approach continue to drive its success and ensure its relevance in an ever-evolving industry.
Meritor (NYSE: MTOR) secured a £15.9 million award from the Advanced Propulsion Centre to develop the 17Xe™ electric powertrain system for heavy-duty vehicles. In collaboration with Danfoss Editron and Electra Commercial Vehicles, the EPIC project aims to enhance the electric truck and bus market. The 17Xe system is designed for optimal efficiency and CO2 reduction, potentially delivering 430kW of continuous power. Additionally, new centers in South Wales and Edinburgh will be established, promoting job creation and innovation in electric mobility.
Meritor, Inc. (NYSE: MTOR) announced on March 17, 2021, that it has begun supplying components for the U.S. Army's M917A3 Heavy Dump Truck (HDT), following a recent order. As the exclusive provider of drivetrain components, Meritor will supply products including the MX-810 front axle, MTC-3220-FV transfer case, ProTec 5000 Series beam axles, and Permalube RPL Series drivelines. This partnership underscores Meritor's over 100-year history of supporting military forces with advanced drivetrain solutions.
Meritor reported first-quarter 2021 results with sales of $889 million, a 1% decline year-over-year. Net income was $32 million ($0.44 EPS), down from $39 million in Q1 2020, affected by higher interest expenses. Adjusted EBITDA rose to $102 million with a margin of 11.5%. Commercial Truck segment showed a 4% increase in sales to $691 million, while the Aftermarket and Industrial segment fell 15% to $234 million. The guidance for fiscal 2021 expects revenue between $3.65 billion and $3.8 billion.
Meritor, Inc. (NYSE: MTOR) announced a three-year supply agreement with Volta Trucks to provide its Blue Horizon™ 14Xe™ integrated ePowertrain for electric commercial vehicles. This collaboration aims to enhance the production of the Volta Zero, a 16-tonne electric truck designed for urban distribution, expected to launch in 2022. Meritor's expertise in electric powertrains aligns with Volta Trucks' vision for sustainable commercial mobility.
Meritor, Inc. (NYSE: MTOR) has secured a three-year supply agreement with Lion Electric, a Canadian manufacturer of medium and heavy-duty zero-emission vehicles. Under this agreement, Meritor will provide its Blue Horizon™ 14Xe™ integrated ePowertrain for Lion Electric's Class 8 tractors, with production commencing in mid-2021. This partnership highlights Meritor's commitment to advanced electric powertrain technologies, reinforcing its status as a reliable supplier in the electrification sector.
Meritor, Inc. (NYSE: MTOR) has secured a five-year supply agreement with Autocar, LLC Trucks to deliver Blue Horizon™ 14Xe™ integrated ePowertrains for refuse vehicles, with production set to commence in 2022. This partnership highlights Meritor's commitment to innovate in electric powertrain technology and aligns with Autocar's goals for zero-emission solutions. The 14Xe powertrain will be manufactured in North Carolina, showcasing Meritor's expertise in the commercial electric vehicle sector.
Meritor, Inc. (NYSE: MTOR) announced the commencement of production for its 14Xe™ all-electric powertrain in mid-2021. This powertrain, part of the Blue Horizon™ portfolio, is the first of its kind ready for Class 8 trucks, boasting superior efficiency and a zero-emission profile. With proven technology tested across various conditions and vehicle types, Meritor aims to deliver significant performance improvements. The 14Xe powertrain will be manufactured in North Carolina and offers benefits like weight reduction and increased battery capacity.
On February 1, 2021, Meritor, Inc. (NYSE: MTOR) announced executive appointments effective March 1, 2021, as part of a leadership transition. Jay Craig will become executive chairman, while Chris Villavarayan will be the new CEO and president. Significant appointments include Tim Bowes as senior vice president and president of Industrial and North America Aftermarket, Ken Hogan as senior vice president and president of Truck in Europe and Asia Pacific, and John Nelligan as senior vice president and president of Truck in the Americas. Tim Heffron will leave the company after 12 years, and Ryan Olivier is appointed chief information officer.
Meritor, Inc. (MTOR) will hold a conference call on Feb. 3, 2021, at 9 a.m. ET to discuss its first-quarter results for fiscal year 2021. Interested participants can join by calling (844) 412-1003 in the U.S. or (216) 562-0450 internationally. A replay will be available after the call until Feb. 10, 2021. The results are anticipated to be released before the call, accessible via the company’s website. Meritor specializes in drivetrain and braking solutions for commercial vehicles, emphasizing innovation and reliability.
On January 7, 2021, Meritor, Inc. (NYSE: MTOR) unveiled two new medium-duty drivelines, the RPL10 and RPL14, expanding its Permalube™ RPL driveline family. These are designed for Class 6-7 vehicles like refuse and transit buses, featuring permanent lubrication for service-free performance. Key benefits include increased uptime and reduced operating costs compared to traditional designs. The products boast advanced features such as a high-performance u-joint seal and an Easy Service™ yoke connection. Production of the new drivelines begins in January 2021.
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