Dana and Dongfeng Motor Co., Ltd. to Produce Commercial Vehicle Axles in China
Dana Corp. and Dongfeng Motor Co. Ltd. have agreed to form a joint-venture company to develop and produce commercial vehicle axles in China. The 50/50 joint venture will be called Dongfeng Dana Axle Co. Ltd. As part of the agreement, Dana will invest in an existing Dongfeng subsidiary to form Dongfeng Dana Axle. Dana’s net investment at the time of closing is expected to be about $60 million. Headquartered in Xiangfan, China, the joint-venture company will employ approximately 8,000 employees in three production facilities in Xiangfan and Shiyan, as well as a research and development center that will be established in Wuhan.
Dana and Dongfeng Motor Co., Ltd. to Produce Commercial Vehicle Axles in China
Dana Corp. and Dongfeng Motor Co. Ltd. have agreed to form a joint-venture company to develop and produce commercial vehicle axles in China. The 50/50 joint venture will be called Dongfeng Dana Axle Co. Ltd. As part of the agreement, Dana will invest in an existing Dongfeng subsidiary to form Dongfeng Dana Axle. Dana’s net investment at the time of closing is expected to be about $60 million. Headquartered in Xiangfan, China, the joint-venture company will employ approximately 8,000 employees in three production facilities in Xiangfan and Shiyan, as well as a research and development center that will be established in Wuhan.
GSC Motorsports Launches Wholesale Division, Adds Three New Products to Lineup
GSC Motorsports, an East Coast distributor of aftermarket parts and accessories, has created a new wholesale division to accommodate its growing number of wholesale and retail customers. This announcement comes on the heels of the announcement of its private label business, GSC Power Division, which operates GSC’s private label parts production and sales.
Dana Launches New Automotive Web Site
Dana Corp. yesterday announced the launch of its newly redesigned automotive Web site, located in the automotive section of www.dana.com. The new site offers expanded content and better navigation capabilities. Products are grouped into five main categories.