Meritor Pulls Out Of FleetWorks.com

Autoparts Report, April 25, 2000

Meritor Automotive, Inc., a Troy, Mich.-based parts maker, has pulled out of FleetWorks.com, an electronic "vertical exchange concept."

Commenting on the decision, Meritor Chairman and Chief Executive Officer Larry D. Yost said: "Complete neutrality is key to the success of any vertical exchange concept. As an industry supplier and majority partner, appropriate neutrality in this case could not be reached, based on the broad industry feedback that we've received since FleetWorks.com was announced. As such, Meritor has decided not to participate in this venture."

Meritor supplies roof, door, automotive body, access control and suspension systems and wheel products for passenger cars, light trucks, and sport utility vehicles. It also supplies complete drivetrain systems and components for medium- and heavy-duty trucks, trailers, off-highway equipment, and specialty vehicles.