Friday, November 27, 2015
Current Weather
Loading Current Weather....
Published: Thursday, 5/10/2007

Dana seeks judge s OK to repurchase 2 plants

NEW YORK Toledo s Dana Corp. is asking a bankruptcy judge for permission to spend about $7.4 million to repurchase two manufacturing plants it leases from a wholly owned subsidiary that isn t in bankruptcy proceedings.

The company has been leasing plants in Stockton, Calif., and Danville, Ky., from its Dana Credit Corp. unit, but it said in a court filing this week that it will reap accounting benefits if it buys the facilities.

Recommended for You

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.