Dissolution at Dana

Dana and The Daido Metal Company have dissolved their joint venture, which manufactured engine bearings and related materials in Atlantic, Iowa, and Bellefontaine, Ohio.


Dana and Japan’s Daido Metal Company have dissolved their joint venture, which manufactured engine bearings and related materials in Atlantic, Iowa, and Bellefontaine, Ohio.



Dana previously had a 70-percent interest in the joint venture, which was consolidated for financial reporting purposes. Dana now has assumed full ownership of the Atlantic facility, which employs approximately 320 people and had 2004 sales of $47 million, including sales of $14 million to Dana.



This operation will continue to service Dana’s commercial vehicle and industrial customers. Daido has assumed full ownership of the Bellefontaine facility, which will service its light-duty customers. This operation employs approximately 350 people and had sales of $44 million in 2004, including sales of $26 million to Dana.



In a separate transaction, Dana has sold its fuel-rail business, consisting of a production facility in Angola, Indiana, with nearly 250 people and sales of approximately $38 million in 2004. The buyer, Millennium Industries, is an Auburn Hills, Michigan-based manufacturer of automotive fuel systems.



While Dana has exited the fuel-rail business, it will continue to design and manufacture fluid-transfer components and systems for its light- and heavy-vehicle customers.