Loading…
Wednesday, April 16, 2014
Current Weather
Loading Current Weather....
HomeNewsLocal
Published: 12/3/2002

European brake unit to be sold by Dana

Toledo's Dana Corp. has agreed to sell a $260 million Germany-based brake and clutch systems operation for an undisclosed sum as the auto supplier concentrates on its core businesses, the company announced yesterday.

HgCapital, a European private equity finance company, has signed a definitive agreement to buy Dana's FTE operations. FTE has 2,850 employees at factories in Germany, Mexico, and Brazil and at a warehouse in France.

The transaction is subject to regulatory approval.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.



Poll