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Meritor Inc. reported increases in net income and revenue for its fiscal third quarter amid gains in the North American truck market.

Meritor Inc. announced a milestone for its York, S.C., manufacturing facility that recently produced its 1 millionth air disc brake, contributing to Meritor’s production of more than 10 million air disc brakes worldwide since 1981.

Meritor Inc. announced Jay Craig, CEO and president, will transition to the role of executive chairman of the board of directors on Feb. 28, 2021. Chris Villavarayan, executive vice president and chief operating officer, will succeed him in both roles, and will join the board.

Commercial vehicle supplier Meritor Inc. announced it halted production at most of its commercial truck facilities throughout North and South America, India and Europe on a temporary basis as a result of the spread of the coronavirus.

Commercial vehicle equipment supplier Meritor Inc. forecast North American Class 8 production is primed for a steep decline in 2020 on the heels of last year’s exceptional market, the strongest in 13 years.

Meritor Inc. announced it entered into an agreement to acquire AxleTech from an affiliate of The Carlyle Group for $175 million to accelerate global sales and growth.

Meritor Inc. reported fiscal-year, second-quarter gains in net income and revenue.

Meritor Inc. announced that 11 independent repair facilities in eight states are newly approved service partners of the Meritor Service Point program.

Commercial vehicle supplier Meritor Inc. notched higher revenue and net income in its fiscal-year third quarter, citing new business wins and higher production in all of its major markets.