Meritor, Inc. (NYSE: MTOR) is an American company headquartered in Troy, Michigan, which manufactures automotive components for military suppliers, trucks and trailers. Meritor is a Fortune 500 company. In 1997, Rockwell International spun off its automotive business as Meritor. In 2000, ArvinMeritor was formed from the merger of Meritor Automotive, Inc. and Arvin Industries Inc., on February 1, 2011, announcing that the company would return its name to Meritor, Inc. at the Mid-American Truck Show in late March. The name change was successfully completed and launched on March 30, 2011. Charles "Chip" McClure, former President and CEO of The Federal Mogul Company, served as CEO of Meritor from 2004 to 2013. Under his executive management, Meritor completed the liquidation of the passenger vehicle business in January 2011. This is officially rated as this global factory/supplier outside the automotive industry. Meritor, thanks to its coordinating centre for the production of commercial vehicle components, reported a continuing loss of sales totaling $63 million in 2011 and $52 million in 2012.