UPDATE 1-ArvinMeritor completes $13 mln unit sale

Newswire

DETROIT, Oct 30 (Reuters) - ArvinMeritor Inc said on Friday it has completed the sale of its suspension systems business to joint venture partner Mitsubishi Steel Manufacturing for about $13 million. The car and truck parts maker reached an agreement in June to sell its 57 percent stake in the unit, which makes coil springs and torsion bars. ArvinMeritor has been trying to cut its ties to the volatile light-vehicle market and focus on commercial vehicle parts over the past year as the ...

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