Dana completes sale of coupled products business
Oct 12, 2007 1:20 PM
Dana Corp, Toledo OH, has completed the sale of its North American coupled products business to Coupled Products LLC, a wholly owned subsidiary of Wanxiang (USA) Holdings Corp, according to Dana information.
The coupled products operations manufacture power-assisted steering products; heating, ventilation, and air conditioning (HVAC) under-engine products; and brake products. The sale substantially concludes the overall divestiture of Dana's fluid products business. In August, the company closed the sale of its North American fluid products hose and tubing operations to Orhan Holding AS. Dana previously sold its European fluid products hose and tubing operations to Orhan in July.
The coupled products plants and/or assets involved in the Wanxiang transaction are located in San Luis Potosi, Mexico; and Columbia City IN, Pensacola FL, Rochester Hills MI, and Upper Sandusky and Wharton OH. The operations employ approximately 2,050 people and reported consolidated revenues of approximately $200 million in 2006.
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