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Nov 6, 2009 3:08 PM

ArvinMeritor Inc has completed the sale of its 57% stake in the Meritor Suspension Systems Company (MSSC) joint venture to Mitsubishi Steel Mfg Ltd (MSM) for approximately $13 million, which included a $12 million cash dividend received by ArvinMeritor in the third quarter.

“The completion of this transaction is another milestone toward ArvinMeritor focusing primarily on supplying advanced product solutions for commercial trucks and trailers, on- and off-highway applications for military, construction and bus and coach, and the aftermarket,” said Chip McClure,  ArvinMeritor’s chairman, chief executive officer, and president.