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Dana has reached an agreement with U.S. Manufacturing Corp. to purchase the company's operations in suburban Detroit for $100 million in cash.
Dana, a power-technologies and driveline supplier, said its adjusted earnings increased 29 percent, before interest and taxes, to $166 million, up from $129 million in 2015.
When the Ford Bronco arrives in 2020, it will have solid axles made at the same plant in Toledo, Ohio, where the axles will be made for the SUV's main competitor -- the next-generation Jeep Wrangler.
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