Dana Holding Corp. has signed an agreement to sell its global structural products business to Metalsa, S.A. de C.V., Mexico’s largest vehicle frame and structures supplier, for $150 million.
The acquisition involves 10 facilities in the United States, Argentina, Australia, Venezuela and Brazil and includes three Dana plants in Kentucky: Owensboro (155 employees), Elizabethtown (550 employees) and Hopkinsville (385 employees).
Metalsa currently has 3,600 employees working in India, Japan, Mexico and the United States. The Dana acquisition will add another 2,800 employees.
Jim Steetnam, president of Ohio-based Dana, said the sale of its structural products business will enable Dana to focus on its axle, driveshaft, sealing and thermal products businesses.
Gustavo Andres, vice president and chief commercial officer for Metalsa, told The (Elizabethtown) News-Enterprise that the company does not plan to close or consolidate any of the newly acquired plants and is not planning to make any changes to the existing workforce.