Boston, MA 05/27/2014 (wallstreetpr) – Meritor Inc (NYSE:MTOR) announced a licensing and technology assistance collaboration with Brakes India Ltd. The companies will cooperate in the production and sale of Meritor’s ELSA air disc brakes in India. The companies already have an existing licensing agreement and the latest will simply enhance their collaboration with a view of capturing a bigger value in the Indian market.
Meritor Inc (NYSE:MTOR)’s vehicle technologies are already a household name in the global market and India in particular. The company has sold more than 5 million of its ELSA brakes around the world, and it’s ELSA 225H air disc brakes have been widely adopted in buses and coaches in India due to their safety and cost-effectiveness.
Although Meritor Inc (NYSE:MTOR) did not reveal the financial details of the latest deal with Brake India, the company said it expects to enter a long-term cooperation with its India partner.
Riding on the solid reputation of its cost-effective, reliable safety of its technologies in the truck market, Meritor intends to expand its international cooperation as it seeks growth domestically.
Product Quality
In order to capture a bigger market share and make more sales, Meritor Inc (NYSE:MTOR) looks to bringing quality products to the market. In a recent development, the company announced plans to introduce a new drive axle that will support more saving in fuel by reducing power losses related to oil churn. The plans for a new fuel-efficient axle were disclosed at a press event with journalist last week in Italy.
Financial Performance
Meritor Inc (NYSE:MTOR) has stood the test of the time in its performance and the company expects the future to result in even much better financial results. The company earned 22 cents per share, beating the consensus estimate of 9 cents for the quarter. Revenue in the quarter came in at $962 million, ahead of 920.24 million. Both revenue and EPS were up by significant margin on a year-over-year basis in the recent quarter.
Analysts are optimistic about the company’s prospects. The stock carries a consensus “hold” rating. Shares of the company are up 34 percent year-to-date.
