Auto parts maker Dana sells part of DCC subsidiary

Newswire

TOLEDO, Ohio, June 27 (Reuters) - Dana Corp. , a leading auto parts maker, said on Thursday it sold part of its Dana Credit Corp. equipment leasing and financing unit to a London-based investment group for $69 million. The divestiture of Dana Credit, due to be completed by the end of the year, is part of a previously announced restructuring under which Dana will close or consolidate about 30 of its plants worldwide and lay off about 15 percent of it work force. "We had said all along ...

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