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The transaction will include the sale of: manufacturing facilities in Columbia City, IN;
Ludlow, MA; Vinita, OK; Hohenwald, TN; and Newbern, TN; distribution centers in Montebello, CA; Columbus, OH; and Cleveland,
TN, a division office in Brentwood, TN, and certain assets from manufacturing facilities in Pelahatchie, MS, and Antwerp,
OH.
The transaction is subject to regulatory approvals and other customary closing conditions. Terms of the agreement
were not disclosed.
'Divesting Boston ...
The transaction will include the sale of: manufacturing facilities in Columbia City, IN;
Ludlow, MA; Vinita, OK; Hohenwald, TN; and Newbern, TN; distribution centers in Montebello, CA; Columbus, OH; and Cleveland,
TN, a division office in Brentwood, TN, and certain assets from manufacturing facilities in Pelahatchie, MS, and Antwerp,
OH.
The transaction is subject to regulatory approvals and other customary closing conditions. Terms of the agreement
were not disclosed.
'Divesting Boston Weatherhead is consistent with Dana's long-term strategy of focusing on core products - axles, driveshafts, structural systems, brake and chassis products, fluid systems, filtration products, and bearings and sealing systems,' said Dana Chairman and CEO Joe Magliochetti. 'We believe this business and its people are better served as part of a company that is committed to the industrial marketplace.'
'The decision to sell this operation was difficult
in light of its reputation and respect in the industrial marketplace,' said Mike Laisure, president of Dana's Engine and Fluid
Management Group. 'However, this action positions us to focus even more sharply on meeting the needs of our automotive, commercial
vehicle, and off-highway customers.'
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