Dana acquires Spanish Driveshaft manufacturer - Supply & Demand: Europe - GKN Ayra Cardan S.A - Brief Article

Dana Corp. has acquired GKN Ayra Cardan S.A., a maker of driveshafts based in Deba, Spain. Financial terms of the deal, which is expected to expand Dana's reach in Europe, were not disclosed. The operation, which will be known as Spicer Ayra Cordon, supplies chassis and drivetrain systems for carmakers Nissan Motor Co., Suzuki Motor Corp. and Mitsubishi Motors Corp. The acquisition resulted from the restructuring of a joint venture with British automotive and aerospace engineering firm GKN Plc that was formed in 1999. Under the new terms, the joint venture company, GKN Driveshafts Ltd., reverts to 100 percent ownership by GKN's automotive driveline division.

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