Dana Holding Corp. has sold most of its global Structural Products business unit to Metalsa S.A., a Grupo Proeza subsidiary that manufactures structural components for light and commercial vehicle markets. The sale is valued at $147 million.
The nine operations being sold are in the U.S., Argentina, Australia, Brazil, Canada, and Dana's interest in a British joint venture with GKN Auto Structures U.K.
A Dana Structural Products operation in Longview, Tex., will remain with the organization. A separate sale of the Dana Structures plant in Venezuela is scheduled to close later this year, pending governmental approval there.
"Completing the sale of the Structural Products business enables Dana to sharpen our focus and resources more squarely on product development and growth in our businesses serving the light, medium, and heavy vehicle and off-highway markets," stated Dana President and CEO Jim Sweetnam.
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