Company will Donate Up to $60,000 from Remanufactured Brake Shoe Sales and Matching Funds to Wyakin Foundation TROY, Mich., Jan. 24, 2017
– Meritor, Inc. (NYSE: MTOR
) today announced the extension of its successful "Shoes for Soldiers" for a third year and will donate up to $60,000 from the sale of remanufactured brake shoes and corporate matching to a foundation that helps position severely wounded, injured or ill veterans for success.
Meritor will donate $50,000 from remanufactured brake shoe sales in addition to a $10,000 match from the Meritor Trust Fund to the Wyakin Foundation, which helps the veterans transition to leadership roles in business, government and their communities. Veterans participating in the Boise, Idaho-based foundation's comprehensive program are pursuing degrees in many areas, including engineering, business, criminal justice, education and computer science.
"Wounded veterans have served our country selflessly and bring unique backgrounds and skills to companies, organizations and communities," said Brett Penzkofer, vice president, Aftermarket, North America for Meritor. "Our support of Wyakin helps veterans transition successfully to civilian lives."
More than 51,000 members of the armed forces have been seriously wounded or injured in combat since the 9/11 attacks on the World Trade Center, according to the Wyakin Foundation. Sixty percent of post-9/11 disabled veterans are unemployed or have dropped out of college.
The foundation's program includes educational and financial support, monthly professional development seminars, community service projects and networking opportunities for job placement. Thirty-two veterans are currently enrolled in the program, and Wyakin projects an additional 15 inductees in 2017. Fifteen veterans have graduated since the program began in 2011, with 11 expected to graduate this year. All alumni were placed in jobs within three months of graduation, according to Wyakin. The annual program cost is $6,000 per participant.
"Wyakin is growing rapidly, and Meritor's generous support is allowing us to expand the breadth and depth of our program through enhanced educational resources, expanded professional development and networking opportunities," said Brent Taylor, executive director, Wyakin Foundation. "Our partnership with a respected company like Meritor also benefits Wyakin by signaling the legitimacy of the foundation and the work we do for our veterans."
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 8,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.