Dana Incorporated (NYSE:DAN) Files An 8-K Other EventsITEM 8.01
As previously announced, Dana Incorporated, through two of its subsidiaries (“Dana”) entered into a definitive agreement to purchase strategic assets of SIFCO S.A., a Brazilian entity (“SIFCO”). SIFCO has operated under judicial restructuring since 2014. Dana submitted a bid to the Brazilian bankruptcy court overseeing SIFCO’s restructuring in a competitive process to acquire SIFCO’s commercial vehicle steer axle systems business and its related forged components business. Dana’s bid was later approved in the bankruptcy court supervised competitive auction process. Dana’s acquisition of these businesses closed on December 23, 2016.
About Dana Incorporated (NYSE:DAN)
Dana Inc, formerly Dana Holding Corporation, is a provider of high technology driveline, sealing and thermal-management products. The Company offers its products to vehicle manufacturers in the global light vehicle, medium/heavy vehicle and off-highway markets. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies. Its Light Vehicle segment’s products include front axles, rear axles, drive shafts, differentials, torque couplings and modular assemblies. Its Commercial Vehicle segment’s products include drive shafts and tire inflation systems. Its Off-Highway segment’s products include products include front axles, rear axles, drive shafts, transmissions, tire inflation systems and electronic controls. Its Power Technologies segment’s products include gaskets, cover modules among others. Dana Incorporated (NYSE:DAN) Recent Trading Information
Dana Incorporated (NYSE:DAN) closed its last trading session up +0.15 at 19.03 with 520,494 shares trading hands.