Dana exits joint venture, sells a business

Resource from: CBCC Likes:2957

Sep 02,2005

CHICAGO (Reuters) - Auto and truck parts maker Dana Corp. said Thursday it has dissolved a joint venture that makes engine bearings and sold an unrelated operation to focus on its core business and will take a charge to earnings. Dana said it expects a third-quarter after-tax charge of $11 million, or 7 cents per share, from the transactions. Dana said it took ownership of a plant in Atlantic, Iowa, in dissolving the joint venture with Daido Metal Co. Ltd. , while Daido took ownership of a plant in Bellefontaine, Ohio. It also sold a fuel-rail production facility in Angola, Indiana, that had 2004 sales of about $38 million to automotivefuel systems manufacturer Millennium Industries, Dana said. Terms of the sale were not disclosed.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Schaffler develops energy-efficient bearings

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.