USA: Dana to Divest Mr. Gasket Aftermarket Operations
As part of its strategy to focus on core businesses, Dana Corporation (NYSE: DCN) today announced that it intends to sell its aftermarket-focused Mr. Gasket Performance Group. Mr. Gasket -- a manufacturer and marketer of high-performance ignition components, fuel pumps, camshafts, rocker arms, and chrome accessories sold under such recognized brand names as Hurst®, Mallory®, ACCEL®, Hays®, Lakewood®, Erson®, DFI(TM), and, of course, Mr. Gasket® -- had sales of $72 million in 1999. The operations employ approximately 360 people at two facilities in Carson City, Nev., and Cleveland, Ohio.
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