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.”