Meritor Inc. (MTOR - Free Report) announced the launch of two new product series – Meritor AllFit and Meritor Green. These broad product offerings are expected to meet the rising demand for new products and address the end-users parts requirements.
Meritor AllFit will be a part of Meritor all-makes family, whereas Meritor Green will be a Meritor remanufactured offering. A remanufactured product of the company provides customers same utility compared with the new one at lower cost.
Recently, the company also announced the launch of Meritor shock absorbers, Meritor suspension controls and Meritor all-makes drivetrain. These will be sold under Meritor AllFit series.
The shock absorber provides greater control to the driver and cargo and is produced in the ISO-certified American facility. It is set to replace the previous Gabriel shock absorbers, which was marketed by all the North American warehouse distributors and OEM dealers.
The shock absorbers are best suitable for Class 6-8 line haul trucks, trailers and key vocational segments like fire and rescue, delivery vehicles, school buses, and municipal vehicles. Their robust design together with advanced sealing system, and premium hydraulic fluid reduce excessive misting, extending the life of the product.
The shock absorbers are available in three different models including cab shocks, standard duty shocks and premium adjustable shocks. Cab shock provides maximum driving comfort by isolating cab from the vehicle's frame. Standard duty ensures longevity on the road and premium adjustable shocks provides a variety of ride preferences with three settings – regular, firm and extra firm.
Headquartered in Troy, Michigan; Meritor is a global automotive parts manufacturer and supplier to various customers in North America, Europe and other parts of the world. The company operates manufacturing facilities in North America, South America, Europe and Asia-Pacific. Some of its big customers include AB Volvo , Navistar International (NAV - Free Report) and Daimler AG (DDAIF - Free Report) .
Meritor reported adjusted earnings per share of 32 cents in the fourth quarter of 2012, down 28.9% from 45 cents in the year-ago quarter. However, earnings outpaced the Zacks Consensus Estimate by 14 cents. The year-over-year fall was attributable to lower earnings from unconsolidated affiliates resulting from a decline in sales volume in the respective markets.
Revenues decreased 19% to $986 million in the quarter, missing the Zacks Consensus Estimate of $1 billion. The decline was due to lower sales volumes in global markets and adverse impacts of currency translation. Currently, the company retains a Zacks Rank #3 (Hold).