Friday, Jul 01, 2016
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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.

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