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Dana's net income increased 21 percent to $69 million for the third quarter, due to strong market demands and acquisitions.
Dana officially opened a $75 million axle plant in Toledo that will employ 350 people who will build up to one million axles per year for several FCA and Ford vehicles.
Dana's second-quarter net income increased 67 percent to $75 million, helped by higher demand for light-vehicle and off-highway products, improved operations and a major acquisition.
Dana's first-quarter net income rose 67 percent to $75 million on the strength of new business with automakers, greater demand for light trucks and improvement in various other business lines.
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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