Home » Dana Corp. to Sell Fluid Products Businesses
Dana Corp. to Sell Fluid Products Businesses
June 6, 2007
Dana Corporation, Toledo, OH, received approval from the U.S. Bankruptcy Court for the Southern District of New York to sell two businesses that make up its fluid products unit.   ; Its fluid products hose and tubing business will be sold to Orhan Holding A.S., a Turkish industrial firm and joint-venture partner of Dana. Orhan will pay $85 million.   ; Dana's coupled products business will be sold to Coupled Products Acquisition LLC, a wholly owned subsidiary of Wanxiang (USA) Holdings Corporation.   ; Dana expects to close the sale of both businesses by the end of July 2007.   ; Dana is in 28 countries and reported 2006 sales of $8.5 billion, with more than half of this revenue derived from outside the U.S.