Dana expands Chinese connections

| 7/10/2007

Dana Corp., which manufactures drivetrains, chassis and other components for heavy trucks, is expanding its presence in China.

The company said it plans to spend about $60 million to form a joint venture with a Chinese company, which will be called Dongfeng Dana Axle and will employ 8,000 workers at three plants.

Dana – which filed for bankruptcy last year – already has seven other joint ventures in the Asian-Pacific region, including two in China.