lockvvell and IVECO on the same axle
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CKWELL International and IVECO have signed an agreement for establishment of a joint venture to manufacture and market .1kwell designed heavy duty axles for Europe, North Africa and Middle East.
rhe joint company, which will known as Rockwell CVD nevi Spa, is acquiring IVECO's int at Cameri, Italy which will retooled for axle production. t is intended that production the Rockwell axles will begin 1983 initially for the IVECO ige only, but as production ts under way, the axles will be ade available to other chassis anufacturers. Other products from the Camen i plant will include IVECO heavy duty rear axles and onroad hub reduction axles.
The new company will also have rights to market the Magirus Deutz hub-reduction axle and will have access to the research facilities of both IVECO in Italy and the Rockwell Automo tive Technical Centre in the USA.
Chairman and chief executive of Rockwell Robert Anderson, has said that his company at present has a minority interest in the joint venture with plans to assume a majority interest in 1983 when the first Cameri axles will beproduced.
By the time the axles reach volume production, the investment by Rockwell and IVECO is expected to be over $150m.