Attached files
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8-K - FORM 8-K - DANA INC | d234954d8k.htm |
EX-2.2 - PURCHASE AGREEMENT - DANA INC | d234954dex22.htm |
EX-2.1 - PURCHASE AGREEMENT - DANA INC | d234954dex21.htm |
EX-99.2 - UNAUDITED PRO FORMA FINANCIAL INFORMATION - DANA INC | d234954dex992.htm |
Dana Holding Corporation Completes Sale of Interests in Getrag Joint Ventures
Dana to Focus on Proprietary AWD Driveline Products
MAUMEE, Ohio September 30, 2011 Dana Holding Corporation (NYSE: DAN) today announced it has completed the sale of its equity in two joint ventures to Getrag. Proceeds from this transaction $136 million in cash will be used to further strengthen Danas liquidity position and overall balance sheet.
The two joint ventures produce rear axle units, power take-off units, and all-wheel-drive systems for light vehicles.
The sale of these interests represents a divesture of non-strategic assets, said Dana President and Chief Executive Officer Roger J. Wood. Our ongoing focus will be on core strategic products in our On-Highway Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies business units, including the development of proprietary all-wheel-drive products.
About Dana Holding Corporation
Dana is a world leader in the supply of driveline products (axles, driveshafts, and transmissions), power technologies (sealing and thermal-management products), and genuine service parts for light- and heavy-duty vehicle manufacturers. The companys customer base includes nearly every major vehicle manufacturer in the global automotive, commercial vehicle, and off-highway markets. Based in Maumee, Ohio, the company employs approximately 24,000 people in 26 countries and reported 2010 sales of $6.1 billion. For more information, please visit: www.dana.com.
Investor Contact |
Media Contact | |
Lillian Etzkorn: 419.887.5160 | Chuck Hartlage: 419.887.5123 |