TOLEDO, Ohio -- Dana Corp. said last week it will swap ownership of several joint-venture plants with a partner company in Mexico.
Under the agreement, Dana will dissolve its joint-venture agreement with Desc SA de CV and acquire full ownership of five axle, driveshaft, forging and foundry operations. Dana owns 49 percent of those operations, which generated $290 million in business during the year ended Sept. 30.
Desc will get full ownership of several transmission and aftermarket gasket operations in which it holds a 51 percent interest. The deal is expected to close next year.
Dana, of Toledo, Ohio, supplies axles, driveshafts, structures and related systems, sealing, thermal management, fluid transfer and engine power products and chassis.