Sale of Dana's Automotive Aftermarket Businesses Officially Complete

Sale of Dana’s Automotive Aftermarket Businesses Officially Complete

Dana Corp. yesterday announced the completion of the sale of its automotive aftermarket businesses to Affinia Group Inc., an affiliate of The Cypress Group. Cypress Group acquired Dana's aftermarket business for approximately $1 billion, including roughly $950 million in cash and a seller's note with a face value of $74.5 million.

TOLEDO, OH — Dana Corp. yesterday announced the completion of the sale of its automotive aftermarket businesses to Affinia Group Inc., an affiliate of The Cypress Group. Cypress Group acquired Dana’s aftermarket business for approximately $1 billion, including roughly $950 million in cash and a seller’s note with a face value of $74.5 million.

The sale encompassed 52 facilities employing approximately 13,000 people worldwide. Combined annual sales for these operations totaled approximately $2 billion in 2003. The transaction also involved several premier replacement product brands and a variety of under-vehicle components. The transaction did not include Dana’s distribution and marketing operations for its engine products, such as piston rings, gaskets and engine bearings, which the company has retained as part of its Automotive Systems Group.

To learn more about Cypress Group, go to: www.cypressgp.com.

For more information about Dana, go to: www.dana.com.

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