Dana Corp. Acquires European Driveshaft Operation
October 9, 2002
Dana Corp., Toledo, Ohio, acquired GKN Ayra Cardan, S.A., a Spanish driveshaft manufacturing facility. The facility, which will now be known as Spicer Ayra Cardan, currently supplies products for Nissan/Renault, Suzuki and Mitsubishi. The acquisition was the result of a restructuring of terms of a joint venture with GKN plc that was formed in 1999. Under the new terms, the joint-venture company, GKN Driveshafts Ltd., reverts back to 100% ownership by the Automotive Driveline Division of GKN.