FOR IMMEDIATE RELEASE
STEMCO ANNOUNCES ACQUISTION OF REMAINING INTEREST IN STEMCO CREWSON JOINT VENTURE
LONGVIEW, Texas (March 10, 2014) – STEMCO, an EnPro Industries company, announced the acquisition of the remaining interest of the STEMCO Crewson, LLC joint venture from Tramec, LLC. The joint venture was formed in 2009 to expand STEMCO’s brake products offering to include automatic brake adjusters. The purchase of the remaining interest in the joint venture will allow STEMCO to accelerate investment in new product development and commercial strategies focused on growth in the brake products segment.
STEMCO Crewson will continue to provide automatic brake adjusters to the commercial vehicle market worldwide. The product line offers several unique inventions such as the patented “Auto Check™” feature that allows the fleet to quickly and visually determine if the brakes are in proper adjustment. Clearance sensing for more accurate brake adjustment is an advanced feature of the STEMCO Crewson ABA. Other innovations include “Cam Guard” which is a highly effective lubrication system that eliminates seizing and corrosion and a patented installation template used for precise installation every time.
“This acquisition is a key element to the growth strategy of the business”, said Jim Reis,vice president/general manager of STEMCO Brake Products. “We will continue to innovate and expand with unique offerings while continuing to provide industry leading brake certification training for the commercial vehicle market.”
With offices and manufacturing facilities in Texas, Georgia, Michigan, New York, Kentucky, Tennessee, Canada and China, STEMCO is a leader in the technology and manufacture of commercial vehicle wheel end, braking and suspension components, as well as intelligent transportation systems. STEMCO is an EnPro Industries, Inc. (NYSE: NPO) company. EnPro is a leader in the manufacture of sealing technologies and engineered products for use in critical applications by industries worldwide. For more information, visit the STEMCO website at www.stemco.com.