Dana to produce truck axles in China
TOLEDO, Ohio — Dana Corp.’s subsidiary Dana Mauritius Limited, has closed on the purchase of 4 percent of the registered capital of Dongfeng Dana Axle Co. Ltd. from Dongfeng Motor Co. Ltd. and certain of its affiliates for about $5 million.
Under the agreement, Dana Mauritius will purchase an additional 46 percent equity interest in Dongfeng Dana Axle Co. Ltd. within the next three years for approximately $55 million.
Dana will invest in an existing Dongfeng subsidiary, which is China’s largest commercial vehicle axle manufacturer, to form Dongfeng Dana Axle.
Headquartered in Xiangfan, China, the joint-venture company will employ 8,000 people in three production facilities in Xiangfan and Shiyan, as well as a research and development center that will be established. The technical center will support Dongfeng Dana Axle’s commitment to providing its customers with world-class manufacturing processes and axle components and systems.
Dana has seven other joint ventures in the Asia-Pacific region, including two others in China.
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