Dana To Sell Brake and Clutch Business To European Private Equity Firm

Autoparts Report, Dec 19, 2002

Dana Corp. said it will sell its FTE brake and clutch actuation systems operations based in Germany for undisclosed terms to HgCapital, a European private equity finance company.

FTE makes master cylinders, wheel cylinders, brake boosters and hoses and antilock brake modules. It has plants in Germany, Mexico, Brazil and France. The company expects 2002 sales of more than $260 million.