ArvinMeritor Completes Sale of Body Business

Truck and auto components maker ArvinMeritor Inc. said it completed the sale of its body systems business to automobile parts provider Inteva Products LLC for $27.3 million.

The sale was first announced last August when ArvinMeritor reported its fiscal third-quarter earnings. At that time it estimated the sale price would be $35 million.

The deal includes $12.3 million in cash and a promissory note for $15 million. ArvinMeritor sold its light-vehicle chassis business in 2009 to OpenGate Capital.

Inteva, which has more than 135 years of experience, with 43 facilities on four continents, designs, engineers, manufactures, and assembles interior, access control, door, roof, electronics and motor systems and provides advanced materials and processes for original equipment manufacturers worldwide.