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.
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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.
