Automotive Industry
Industry: Email Alert RSS FeedGKN, Dana drop driveline deal.
Automotive News Europe, April, 2002 by Wilson, Amy
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GKN and Dana have suspended their Drive Tek joint venture in the USA because customers weren't eager to buy complete driveline systems.
But GKN has formed another alliance that may help it pursue the driveline systems business. GKN purchased a 33.3 percent stake in Japanese supplier Tochigi Fuji for $39.2 million (E45 million) to add to its torque-management capabilities and bolster its Asian sales position.
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Drive Tek shut down its Auburn Hills, Michigan, engineering office in March after GKN and Dana executives spent January and February dividing up what little business the ...
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