ArvinMeritor Sells Coil Coating Business
ArvinMeritor Inc. (Troy, Mich.; http://www.arvinmeritor.com), a supplier of integrated systems, modules and components to the motor vehicle industry, sold its subsidiary, Roll Coater Inc., to an affiliate of Willis Stein & Partners, a private equity firm. The cash purchase price of the stock transaction is approximately $162.5 million. Roll Coater Inc., a leader in the coil coating industry, will remain headquartered in Indianapolis, Ind., with facilities with Greenfield, Ind.; Kingsbury, Ind.; Hawesville, Ky.; and Weirton, W. Va. The sale allows ArvinMeritor to focus on its core competencies in the global automotive and heavy truck markets.