TOLEDO, OH — Dana Corp. is increasing its ownership stake in Nippon Reinz Co., Ltd., a Japanese sealing products producer, in which it previously held a 26.3 percent stake. Dana now owns 53.7 percent of the venture. Mitsubishi Cable Industries, which had owned 73.7 percent of the business, will retain a 46.3 percent share.
Founded in 1967, NipponReinz manufactures gaskets, thermal and acoustical protective shields and wire mesh filters for exhaust and safety system components, such as airbag inflator tubes and exhaust systems. The business has annual sales of approximately $50 million and employs approximately 220 people. The facility is located in Yamato City in the Kanagawa Prefecture of Japan.
With this move, NipponReinz becomes Dana’s first fully consolidated manufacturing entity in Japan. Nippon Reinz also is a technology liaison to Dana’s global sealing products operations, according to Mike Laisure, president of Dana’s Automotive Systems Group. Laisure said NipponReinz will play a key role in the development of fuel-cell components for Japanese customers, and Dana’s future research and development initiatives in the Asia-Pacific region will be supported by NipponReinz.
Dana’s operations in this country also include a technical center in Toyohashi, minority-owned driveshaft manufacturing and distribution facilities, and sales offices in partnership with GETRAG and Najico Spicer. Dana also has affiliations with other Japanese manufacturers, such as Daido, Riken, and Nitta Moore.
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