Dana Holding Corporation says it has completed the sale of its equity in two joint ventures to Getrag, with the US$136m cash proceeds 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.
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“The sale of these interests represents a divestiture of non-strategic assets,” said Dana president and CEO Roger 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.”
