Home » Dana Corp. Completes Sale of Fluid Products Businesses
Dana Corp. Completes Sale of Fluid Products Businesses
September 25, 2007
Dana Corporation, 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 Corporation.   ; The sale concludes the divestiture of Dana's fluid products business. Last month, the company closed the sale of its North American fluid products hose and tubing operations to Orhan Holding, A.S. Dana previously sold its European fluid products hose and tubing operations to Orhan in July 2007.   ; The completion of this divestiture marks another important step in Dana's efforts to concentrate our resources on the core products and competencies that are the foundation for our future growth," said Dana Chairman and CEO Mike Burns.   ; The coupled products plants employ 2,050 people and reported consolidated revenues of $200 million in 2006.   ; Dana is supplies axles; driveshafts; and structural, sealing, and thermal management products; as well as genuine service parts. The company's continuing operations employ 36,000 people in 28 countries and reported 2006 sales of $8.5 billion, with more than half derived from outside the U.S.