In November 2012, the well-known parts manufacturer Affinia Group split the brake business of its Raybestos brand, and the new company formed after spin-off will be managed by the former Global Brake Group of Affinia.
Affinia stated that the business spin-off will be completed on November 30. The new company formed after spin-off will be supervised by an independent board of directors. Affinia's former president of the Global Brake and Chassis Group David Overbeeke will serve The person in charge of the new company's business, the terms of the spin-off and the name of the new company have not yet been announced.
The Affinia Group President and CEO Merry R. McCormack stated: "The spin-off brake business represents the strategic adjustment of the Affinia Group, enabling us to focus on filter and chassis products and business in the South American market, with the newly established brakes. The company will focus on the unique needs of the global brake market under the leadership of David Overbeeke."
Affinia’s spin-off includes the assets and staff of all North American and Asian brake businesses, including two plants in the United States and China, and a factory in India.
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