EnPro Industries, Inc. (NYSE: NPO), a leading manufacturer of engineered industrial products, has acquired Motorwheel Commercial Vehicle Systems, Inc., a manufacturer of engineered critical brake components, including drums and component assemblies for heavy-duty trucks and other commercial vehicles. The business was acquired from Precision Partners Holding Company for cash. Terms were not disclosed.
Motorwheel is the leading U.S. manufacturer of lightweight brake drums for heavy-duty trucks and other commercial vehicles. The company also manufactures wheel-end component assemblies for the heavy-duty market and full cast brake drums for military applications. In addition, Motorwheel sells fasteners for wheel-end applications and provides a full suite of services to its customers, including product development, testing and certification, and distribution. It will be managed as part of the Stemco operations in EnPro's Sealing Products segment.
"The addition of Motorwheel's drums and other products enables Stemco to offer its customers a complete package of brake system components and wheel-end products," said Steve Macadam, president and chief executive officer of EnPro. "We are quite excited about the possibilities this acquisition creates as Stemco leverages its distinctive go-to-market strategy and large distribution network to offer Motorwheel's products to both fleet operators and original equipment manufacturers. Motorwheel's employees have created a culture of continuous improvement that we believe will blend well with the culture we have built at EnPro. We welcome them as part of the EnPro family. "
Motorwheel is headquartered in Livonia, Michigan. It operates manufacturing facilities in Chattanooga, Tennessee, and Berea, Kentucky, and employs 136 people. Motorwheel's primary product is the CentriFuse(R) brake drum, which is widely recognized as the leading premium brake drum for heavy-duty vehicles and commercial trailers. The company's patented technology creates a superior braking surface that resists wear while the lightweight design improves both fuel efficiency and payload capacity.
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
Investor Contact:
Don Washington, 704-731-1527
Director, Investor Relations and
Corporate Communications
don.washington@enproindustries.com
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