NEW YORK, NY — The United States Bankruptcy Court for the Southern District of New York has authorized Dana Corporation to sell its trailer axle business to Hendrickson USA, L.L.C.
Hendrickson will assume control of the Lugoff, SC trailer products manufacturing facility in January 2007 following closing procedures outlined in the asset purchase agreement. Products will be manufactured in Barrie, Ont., during the first quarter under the terms of a production supply agreement with Dana. Additional customer and vendor communications are expected in early January.
Hendrickson views the addition of the Dana trailer axle business as an integral part of our long-term strategic plans. The acquisition of this business extends our platform for common wheel ends and braking systems across integrated and non-integrated families of suspension systems, said Gary Gerstenslager, President and Chief Operating Officer of Hendrickson.
Perry Bahr, Vice President / General Manager of Hendrickson Trailer Suspension Systems, added, Hendrickson has a strong historical relationship with our customers in Canada. We recognize the importance of the axle business to our Canadian customers and will address the distribution of the trailer axle products early on in our integration process.
Manufacturing of loose trailer axles will be in Lugoff, SC. Initial distribution will be conducted from Lugoff, SC, Brampton, ON and Monterrey, MX.
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