Carlisle Companies acquires off-highway brake business

Charlotte, North Carolina -- Carlisle Companies Inc. has announced the acquisition of the off-highway brake assets of ArvinMeritor, Inc. for approximately $39 million. The transaction includes manufacturing assets from the ArvinMeritor facilities in York, SC and Cwmbran, South Wales, UK. Carlisle provides off-highway braking systems and specialty friction products through Carlisle Industrial Brake & Friction and on-highway heavy-duty braking and friction products through Carlisle Motion Control.

Richmond McKinnish, Carlisle's President and CEO, commented, "We are very excited to be expanding our off-highway braking business which serves one of our most profitable market segments. This acquisition strengthens one of Carlisle's core businesses and is in line with our overall strategy to achieve and maintain leadership in the markets we serve."