Metalsa To Acquire Dana Holding Corporation’s Structural Products Business
Dec 17, 2009 1:53 PM
Metalsa, S.A. de C.V. has announced that it has agreed to purchase the structural products business of Dana Holding Corporation (NYSE: DAN). This acquisition strengthens Metalsa’s position as a global supplier providing structural components to the light and commercial vehicle markets.
Under the terms of the agreement, Metalsa, a subsidiary of Grupo Proeza, will assume control of 10 Dana manufacturing facilities that produce structural components for chassis and body structures in light and commercial vehicles, including accompanying administrative, technical and sales centers. These facilities are located in Argentina, Australia, Brazil, United States of America and Venezuela.
The transaction also includes Dana’s interest in its Chassis Systems Limited joint venture in the United Kingdom with GKN Auto Structures. This transaction complements Metalsa’s 3,600 employees in India, Japan, Mexico and the U.S., and adds approximately 2,800 employees to the Metalsa organization.
"This is a great step for Grupo Proeza and Metalsa as we aim to better serve ourcustomers around the globe,” said Enrique Zambrano, CEO, of Grupo Proeza. “With this acquisition we expand our manufacturing footprint to support business in new regions and also bring our long-term commitment to innovation, quality and customer service to the global structural components market for light and commercial vehicles.”
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