Affinia Group Inc., a provider in the design, manufacture, distribution and marketing of industrial grade products and services, has spun off its brake businesses. The new organization will be led by the management team from Affinia Group’s former global brake group, with oversight provided by a separate board of directors.
"The spinoff of our brake business represents a strategic realignment for Affinia, offering us an opportunity to focus intensely on our filtration and chassis product lines and our South American business operations, while giving the new brake group, led by David Overbeeke, the ability to concentrate on the unique needs of the global brake market," said Terry R. McCormack, president and CEO of Affinia Group. "Affinia is committed to a smooth transition and we are confident that the brake group management team will continue to provide their customers with world class products and service."
Closing of the spinoff occurred on Friday, Nov. 30; terms were not disclosed.