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Published: Friday, 10/22/2004

Dana doubles stake in Japanese auto parts firm

Toledo's Dana Corp. now owns a majority stake in a $50 million Japanese sealing products manufacturer, the Fortune 500 firm announced yesterday.

Dana previously had a 26.3 percent stake in Nippon Reinz Co. Ltd. of Yamato City, which was founded in 1967 and has 220 employees. Mitsubishi Cable Industries owned the rest. Dana now owns 53.7 percent of Nippon Reinz and Mitsubishi Cable, 46.3 percent.

In Japan, Dana also has a technical center, a minority stake in driveshaft manufacturing and distribution facilities, and sales offices with partners. It also has affiliations with Japanese manufacturers worldwide.

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