TOLEDO, Ohio (Sept. 24) — Dana Corp. has completed the previously announced sale of its North American coupled products business to Coupled Products L.L.C., a subsidiary of Wanxiang (USA) Holdings Corp. Dana said it expects to record an after-tax loss of about $44 million in the third quarter in connection with the transaction.
The coupled products unit posted sales of about $200 million in 2006 and employs about 2,050. The sale included five U.S. plants and one in Mexico.
The sale substantially concludes Dana's divestiture of its fluid products business. It previously sold its fluid products hose and tubing operations to Orhan Holding A.S.