Dana Corp. increases stake in Japanese sealing venture

Automotive Industries, Nov, 2004

Dana Corp. has increased its ownership stake in Nippon Reinz Co. Ltd., a Japanese sealing products producer. Dana now owns 53.7 percent of the venture; it had previously owned 26.3 percent. Mitsubishi Cable Industries, which had owned 73.7 percent of the business, will retain a 46.3 percent share.

Founded in 1967, Nippon Reinz manufactures gaskets, thermal and acoustical protective shields, and wire mesh filters for exhaust and safety system components, such as airbag inflator tubes and exhaust systems. The business has annual sales of approximately $50 million and employs approximately 220 people. The facility is located in Yamato City in the Kanagawa Prefecture of Japan.