Dana To Sell Trailer Axle Manufacturing Business
Sep 11, 2006 2:07 PM
Dana's trailer products business employs approximately 180 people at two principal locations: Lugoff, S.C., and Barrie, Ontario. Under terms of the agreements with Hendrickson, approximately 90 employees, a commercial vehicle building, and trailer manufacturing assets at Lugoff will go to the buyer. In Barrie and Wuxi, China, only trailer manufacturing assets will be sold to the buyer. Approximately 90 positions in Barrie will be eliminated when the assets are relocated by the buyer. In Wuxi, employees will be reassigned to Dana's remaining operations within the facility.
In conjunction with the asset purchase agreements, Bendix Spicer Foundation Brake LLC, a joint venture in which Dana has an interest, has agreed to continue to supply Bendix brake systems to Hendrickson.
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