Dana Corporation has acquired GKN Ayra Cardan, S.A., a Spanish driveshaft manufacturing facility, which will enhance Dana's offering of light-duty propeller shaft and accelerate the development of new products and technologies.

The facility - which will be known as Spicer Ayra Cardan - currently supplies Nissan/Renault, Suzuki and Mitsubishi.

The acquisition was the result of a restructuring of terms of a joint venture with GKN plc that was formed in 1999. Under the new terms, the joint-venture company, GKN Driveshafts Ltd., reverts back to 100-percent ownership by the Automotive Driveline Division of GKN.

Financial terms of the agreement were not disclosed.