MAUMEE, OH (AP) -- Dana Holding Corporation says it has completed a deal to distribute truck and bus steering axles now made by a company in South America.
The auto parts supplier based in the Toledo suburb of Maumee said today it bought the distribution rights from SIFCO, adding the commercial vehicle axles to Dana's product offerings in South America and giving the company a full line of commercial driveline products there.
Dana says the deal is part of its emerging markets strategy that included a recent joint venture investment announcement in China.
The company says it invested $150 million to get the rights to the South American business, which is expected to generate $350 million in annual revenue.
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