Dana Completes Sale of Two Joint Ventures

Dana announces it has completed the sale of two joint ventures so the company can focus on its AWD driveline products.

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Dana Holding Corporation announces it has completed the sale of its equity in two joint ventures to Getrag. Proceeds from this transaction – $136 million in cash – will be used to further strengthen Dana's liquidity position and overall balance sheet.

The two joint ventures produce rear axle units, power take-off units and all-wheel-drive systems for light vehicles.

"The sale of these interests represents a divesture of non-strategic assets," says Dana President and Chief Executive Officer Roger J. Wood. "Our ongoing focus will be on core strategic products in our On-Highway Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies business units, including the development of proprietary all-wheel-drive products."