Dana Corp. To Sell Parish Structural Products Operation In Thailand
May 23, 2003
Dana Corp., Toledo, Ohio, signed a definitive agreement to sell its Parish Structural Products (Thailand) Ltd. (PSPT) operation in Bangpakong, Thailand, to AAPICO Hitech Public Co., Ltd., a Thai automotive supplier. PSPT produces frame sets for the Isuzu D-Max pickup. The operation employs approximately 275 people and related 2002 sales totaled approximately $40 million. Terms of the transaction were not disclosed. Dana's axle, driveshaft, and administrative facilities located respectively in Rayong, Latkrabang, and Bangkok, Thailand, are not affected by the proposed sale.