MAUMEE, Ohio—Longtime axle and powertrain parts supplier Dana Holding Corp. plans to expand its headquarters in suburban Toledo, Ohio, and consolidate workers from other offices in the new space.
The expansion of the 191,000-sq.-ft. corporate office and technology center is estimated to cost $7 million to $10 million, and the building will grow by more than 40,000 square feet.
Dana, one of the suppliers to Ford's Model T with roots dating back 110 years, survived a nearly two-year bankruptcy reorganization in 2006-08 along with the U.S. economic crisis that followed. It moved out of its longtime headquarters in Toledo to the office in Maumee after the bankruptcy. “We are very excited about our future growth,” a Dana spokesman said.
Dana had leased the headquarters building and surrounding property from the Toledo-Lucas County Port Authority since the facility was built in 2003, but Dana Cos.—a Dana subsidiary—purchased the building and property for $17.6 million in mid-April.
Work on the expansion is expected to begin in September, and if construction starts on time, the work should be done in the summer of 2015.
When the expansion is complete, Dana will close its office two miles north of the headquarters building. A majority of the nearly 175 employees from that facility will move to the expanded headquarters, the spokesman said.
Others from the company's suburban Detroit office also will be moved to the expanded building.