Dana Closes Longtime Monroe County Test Facility: Research Site a Victim of Cost Cuts; 70 Workers Shifted
Dana Corp.’s 320-acre Technical Resource Park for years employed several dozen people and provided two test tracks for engineers to try out new automotive products. But last week, the main gate of the Monroe County, MI, facility was chained shut and the parking lot was virtually empty. A spokesman for the Toledo automotive parts supplier confirmed that the park has been closed, and said its 70 employees have been moved over the past few months to other facilities in the Toledo area. Chuck Hartlage described the closing as a cost-cutting step.
Ford to Sell Mexico Power Transfer Unit
From AFX News Limited DEARBORN, MI — Ford Motor Co. said earlier this week it has reached a non-binding proposal with Linamar Corp., a diversified manufacturing company, outlining the potential sale of its Mexico-based power transfer unit business. Financial terms were not disclosed. The Converca I Plant in Nuevo Laredo, Mexico produces power transfer units,
The Week in Review (April 2-5, 2007)
By Amy Antenora Editor The Week in Review offers a snapshot of the most read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, click on any of the dates listed at the bottom of
Neapco to Buy Ford Auto Parts Plant
From AFX News Limited DEARBORN, MI — Ford Motor Co. has entered into an agreement to sell a Michigan auto parts plant to an affiliate of a China-based company, while it has closed the sale of a Mexico factory to another company. Financial terms for both transactions were not disclosed. Neapco LLC, a North American
Dana Completes Sale of Engine Hard Parts Business to MAHLE GmbH
Dana has completed the sale of its engine hard parts business to MAHLE GmbH for an aggregate cash payment of approximately $97 million. The engine hard parts business consists of 39 facilities, which manufacture piston rings, engine bearings, cylinder liners and camshafts under the Perfect Circle, Clevite and Glacier Vandervell brands.
Dana Completes Sale of Trailer Axle Manufacturing Assets to Hendrickson
Dana Corp. and its subsidiary, Dana Canada Corp., have completed the sale of their trailer axle manufacturing assets to Hendrickson USA, L.L.C., a subsidiary of The Boler Co., and its affiliates. The U.S. and Canadian assets, which include trailer axle production equipment, inventory, and related assets at facilities in Lugoff, SC, and Barrie, Ontario, Canada, were sold for a combined $31 million, subject to inventory adjustments at closing.
Executive Interview with Lee Murray, General Manager, Dana Engine Parts Division
In this week’s Executive Interview, we hear from Lee Murray, general manager for Dana’s Clevite Engine Parts Division. Murray assumed this role in April 2006 and has responsibility for all functions associated with the Clevite, Perfect Circle and Victor Reinz brands. He originally came to Clevite in 2004 as vice-president of marketing. Join us as Murray talks about the sale of Dana’s Engine Parts division to MAHLE, the general health of the engine business and more.
Timken Sells Automotive Steering Business
The Timken Co. said today it has completed the sale of its automotive steering business, which operates facilities in Watertown, CT, and Nova Friburgo, Brazil, to DriveSol Worldwide, Inc. Terms of the sale were not disclosed. The steering business employs approximately 600 people at the Watertown plant and about 300 people in Brazil and had 2005 sales of $110 million.
Dana to Sell Trailer Axle Manufacturing Business
Dana Corp. and two affiliates have entered into asset purchase agreements with Hendrickson USA, L.L.C., a subsidiary of The Boler Co., for the sale of Dana’s trailer axle manufacturing business. Under terms of the agreements, the buyers will acquire certain assets located in Lugoff, SC; Barrie, Ontario, Canada; and Wuxi, China, which are used to manufacture heavy-duty trailer axles and suspensions for an aggregate price of approximately $38 million in cash. The buyer will also assume limited liabilities related to the business.
NAPA Under Car Sales Group Launches Holiday Promotion
Posted: August 31, 2006, 9 a.m., EST ATLANTA, GA – The NAPA Under Car Sales Group recently announced the launch of its new “What’s UNDER Your CAR this Holiday Season?” promotion, where service dealers have the opportunity to earn back up to 100 percent of their holiday gift card purchases during in the first quarter