Meritor Inks Collaboration Agreement With ConMet For Zero-Emission Trailers

Meritor Inc 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.