DETROIT -- Supplier ArvinMeritor Inc. has sold its steel coil coating subsidiary, Roll Coater Inc., to private equity firm Willis Stein & Partners of Chicago for $162.5 million.
ArvinMeritor said on Oct. 28 that it was looking for buyers for Roll Coater and its Light Vehicle Aftermarket business unit. The sales are part of an effort to focus on original-equipment business. The company ranks No. 18 on the Automotive News list of the top 150 suppliers to North America, with North American original-equipment automotive parts sales of $1.96 billion in 2003.
Roll Coater of Indianapolis provides coated steel for the auto, heating and air conditioning, transportation and appliance industries. Roll Coater has about 550 employees.
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