USA: Dana sells German FTE brake and clutch business to HgCapital
Dana Corporation has agreed to sell its FTE brake and clutch actuation systems operations to HgCapital, a European private equity finance company. Terms of the agreement were not disclosed. FTE is a leading manufacturer of brake and clutch actuation systems. Headquartered in Ebern, Germany, the FTE operations expect 2002 sales in excess of $US260 million and employs approximately 2,850 people at five manufacturing facilities, located in Ebern, Fischbach, and Muhlhausen, Germany; Puebla, Mexico; and Gravatai, Brazil; and at a warehouse in Paris, France. FTE also operates 14 sales offices globally.
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