AxleTech International has acquired Truck Trailer Transit (TTT), a manufacturer of braking systems in Detroit.
The TTT acquisition broadens AxleTech’s brake portfolio with 20 additional brake families spanning hydraulic disc, cam drum and wedge drum product lines. Terms of the acquisition were not disclosed.
Mary Petrovich, CEO of AxleTech International, said, “AxleTech is already a market leader in planetary axles, independent suspensions, transfer cases, as well as wet and dry disc brakes. We now add drum brakes and hydraulic disc brakes to our product range. Given the integral importance of braking systems to our business, this acquisition will help us better serve AxleTech customers across all segments worldwide. The deal also fits perfectly with our strategy to grow AxleTech’s original equipment [OE] and aftermarket presence across the commercial on-highway and bus/transit markets.”
Dave Lawrence, president of TTT, emphasized the synergies between the two businesses.
“TTT is excited to join the AxleTech team. AxleTech and TTT share unparalleled reputations for delivering technical solutions that meet OE standards with the highest quality and customer service. We look forward to providing all of our customers with the distinct benefits that AxleTech can now offer with the addition of TTT products.”
Bill Gryzenia, vice president of aftermarket business development said, “In 2007, AxleTech International celebrated its five-year anniversary by quadrupling its global aftermarket business from 2002 levels. Given the competitive advantages of adding TTT to our family, we fully expect to expand our new aftermarket presence to achieve another wave of growth.”
AxleTech International is a global manufacturer and supplier of axles, axle components, planetary axles, independent suspensions, brakes and aftermarket parts for commercial specialty trucks, military vehicles and off-highway machines used in the construction, material handling, forestry, mining and agricultural markets. The Carlyle Group- owned company has its origins as the off-highway division of Rockwell (now ArvinMeritor).
For more information on AxleTech International, visit www.axletech.com.