UPDATE 1-ArvinMeritor sells part of car parts business

Newswire

* Sells two units that make car parts * First deals in year-long effort to divest car parts unit * Shares up 11.7 percent in morning trade DETROIT, June 25 (Reuters) - ArvinMeritor Inc is selling its stakes in two businesses that make auto parts such as shock absorbers and springs, the first deals reached in a year-long effort to divest its unprofitable car parts unit. Shares of ArvinMeritor jumped 11.7 percent in morning trade. The car and truck parts maker, which has been working ...

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