Tuesday, November 22, 2005
Dana Corp. Acquires 100% of Mexican Factories
Dana Corporation, the automotive parts maker with significant remaining operations in Fort Wayne, will be acquiring full ownership of five Mexican factories that it had operated as a joint venture with a Mexican firm.
"These transactions will provide Dana with a strategic opportunity to strengthen our core axle and driveshaft businesses with vertically integrated and technologically advanced operations in a key geographic location," said Dana Chairman and CEO Mike Burns. "As a result, Dana will be positioned to benefit from low-cost manufacturing efficiencies, as well as top-line growth from fully owned core operations in Mexico."