Dana Corporation is to sell its forging operations in Kirkstall, Leeds, England.
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The operations, part of Dana’s Spicer Specialty Axle Division, produce forgings for on- and off-highway axle applications and also provide complete machining capabilities for axles and other products, including those for the oil and gas industries. The facility employs approximately 200 people.
Dana’s Spicer Specialty Axle Division plans to retain the engineering and sales responsibilities for the facility’s finished drive, front-steer, and non-drive steer axle products.
“The decision to sell the forging operation was difficult to make and is
absolutely no reflection on the talented people within the Spicer Specialty Axle Division,” said Nick Cole, president of the Off-Highway Systems Group.
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By GlobalData“Forging is simply not a core Dana technology and has become less strategic for us. We believe the forging operation will have greater potential with a company that considers forging central to its business.”
Dana has retained the investment-banking firm of CIBC World Markets to assist in the transaction.
