Spotlight: Rockwell Picks Meritor as Name for Spinoff
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Rockwell International Corp. chose Meritor Automotive Inc. as the name for the auto parts unit it will spin off to shareholders next month. Seal Beach-based Rockwell announced the spinoff in March as it refocuses solely on production of semiconductors, factory control systems and avionics. Meritor, with $3.1 billion in annual sales, makes axles, brakes, sunroofs and other parts. Troy, Mich.-based Meritor will have 16,000 employees and operations in 20 countries.
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