ConMet Buys TruckWings Creator TruckLabs
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Heavy-duty commercial truck and trailer component manufacturer ConMet bought TruckLabs, whose products include the tractor-mounted TruckWings aerodynamic device, it said.
Vancouver, Wash.-headquartered ConMet, which specializes in wheel hubs, aluminum castings and structural plastics, completed the deal Nov. 2, it said Nov. 7.
TruckLabs’ signature product, TruckWings, automatically deploys at highway speeds to close the gap between the back of the cab and front of the trailer.
Phoenix-based TruckLabs says TruckWings reduces drag, improves stability, and increases fuel efficiency by 3%-6%. Users can save more than 1,100 gallons of fuel and 15,000 pounds of carbon dioxide emissions per year on each truck, or extend the range of electric and hydrogen vehicles, it argues.
Latest Acquisition: #ConMet has acquired@TheTruckLabs, the creator of #TruckWings, an aerodynamic device that improves the efficiency of heavy-duty trucks. Together, we’ll bring efficiency and cost savings to more of the industry! Read more: https://t.co/GKuPQb3NVK pic.twitter.com/TbzPhWGQia — ConMet (@ConMet) November 7, 2023
“TruckLabs’ innovative TruckWings product is an ideal addition to ConMet’s portfolio,” said ConMet President John Waters. “Their technology — which has been proven through 750 million logged highway miles — aligns well with our goal of providing [original equipment manufacturers] and fleets with forward-thinking, profitable solutions to improve fuel efficiency and reduce carbon emissions.”
Amsted Industries division ConMet did not say how much it paid to acquire TruckLabs and was not immediately available for comment.
Under the deal, TruckLabs will become a wholly owned subsidiary of ConMet.
“ConMet is the perfect partner to introduce our product to a wider customer base, and adds much-needed scale to our manufacturing capabilities,” TruckLabs Founder Daniel Burrows said. “Together, my team and I are excited to join with ConMet to supercharge our impact on our customers’ fuel costs and climate goals.”
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