Dana increases equity stake in China- and India-based operations

Dana Holding Corporation has completed two transactions that will enhance its position for further growth in the emerging markets of China and India. The company has increased its stake in Dongfeng Dana Axle Company, a China-based commercial-vehicle axle joint venture, to 50 per cent and has also acquired the commercial-vehicle axle business of Axles India. "We are encouraged by the continued strong performance of the truck and bus markets in China, and of our partner Dongfeng, and look forward to the stren
April 17, 2012 Read time: 2 mins
4932 Dana Holding Corporation has completed two transactions that will enhance its position for further growth in the emerging markets of China and India. The company has increased its stake in 4933 Dongfeng Dana Axle Company, a China-based commercial-vehicle axle joint venture, to 50 per cent and has also acquired the commercial-vehicle axle business of Axles India.

"We are encouraged by the continued strong performance of the truck and bus markets in China, and of our partner Dongfeng, and look forward to the strengthened relationship," said Dana president and CEO Roger J. Wood. "This is another important step in our ongoing drive to seek out opportunity in the Chinese market and expand globally."

As part of its acquisition of Axles India, Dana has also assumed responsibility for the marketing, sales, and engineering of these medium- and heavy-duty axles. Key customers of this business are 4934 Ashok Leyland and Mahindra & Mahindra.

"This transaction further extends our capabilities and operations in another rapidly growing market," Wood said.  "Dana's recognised manufacturing and engineering leadership will be a key advantage in growing both of these businesses."

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