AxleTech International Expands its Braking Systems Business with Acquisition of Truck Trailer Transit
28 March 2008 15:44
AxleTech International announced today that it has acquired Truck Trailer Transit (TTT), a global leader in braking systems based in Detroit, Michigan. The TTT acquisition broadens AxleTech's brake portfolio with twenty additional brake families spanning hydraulic disc, cam drum, and wedge drum product lines. Terms of the acquisition were not disclosed.
Mary Petrovich, CEO of AxleTech International, said: "AxleTech is already a market leader in planetary axles, independent suspensions, transfer cases, as well as wet and dry disc brakes. We now add drum brakes and hydraulic disc brakes to our product range. Given the integral importance of braking systems to our business, this acquisition will help us better serve AxleTech customers across all segments worldwide. The deal also fits perfectly with our strategy to grow AxleTech’s Original Equipment (OE) and Aftermarket presence across the Commercial On-Highway and Bus/Transit markets."
Dave Lawrence, President of TTT, emphasized the synergies between the two businesses. "TTT is excited to join the AxleTech team. AxleTech and TTT share unparalleled reputations for delivering technical solutions that meet OE standards with the highest quality and customer service. We look forward to providing all of our customers with the distinct benefits that AxleTech can now offer with the addition of TTT products."
Bill Gryzenia, Vice President of Aftermarket Business Development said: "In 2007, AxleTech International celebrated its five-year anniversary by quadrupling its global Aftermarket business from 2002 levels. Given the competitive advantages of adding TTT to our family, we fully expect to expand our new Aftermarket presence to achieve another wave of growth."
For more information on this company:
Axletech - Axle, Suspension and Drivetrain Systems
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