Dana Holding Corporation Announces Divestiture of Venezuelan Operations
C.A. Danaven provides drivetrain products principally to global automotive vehicle manufacturers in
Manufacturing and Logistics Solutions Limited will operate the business in
"This business decision was made to improve Dana shareholder value by reducing uncertainty associated with foreign currency and other regulatory pressures," said President and Chief Executive Officer
Terms of the agreement were not disclosed; however, Dana expects that its net income attributable to the parent company in the fourth quarter of 2014 will include a net charge approximating
About
Dana is a global leader in the supply of highly engineered driveline, sealing, and thermal-management technologies that improve the efficiency and performance of vehicles with both conventional and alternative-energy powertrains. Serving three primary markets – passenger vehicle, commercial truck, and off-highway equipment – Dana provides the world's original-equipment manufacturers and the aftermarket with local product and service support through a network of nearly 100 engineering, manufacturing, and distribution facilities. Founded in 1904 and based in
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SOURCE
Media Contact: Jeff Cole, 419-887-3535, jeff.cole@dana.com; Investor Contact: Craig Barber, 419-887-5166, craig.barber@dana.com