Dana completes sale of interests in Getrag Joint Ventures

Dana Holding Corp. on Friday, Sept. 30, announced it has completed the sale of its equity in two joint ventures to Getrag. Proceeds from this transaction – $136 million in cash – will be 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.

“The sale of these interests represents a divesture of nonstrategic assets,” says Roger Wood, Dana president and chief executive officer. “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.”