Dana Corp Selling Tubing Business To Turkish Orhan

Deal is worth $70 million and is expected to close in the second quarter of 2007.

Dana Corp. said Thursday that it will sell its non-core fluid products hose and tubing business to Turkish industrial firm Orhan Holding, A.S. for $70 million.

Three U.S. plants and one each in Mexico and the UK are affected by the sale. Dana will also sell its stock in three companies in France, Slovakia and Spain, as well as interests in three joint ventures with Orhan.

The deal is expected to close in the second quarter of 2007.

The operations being sold manufacture fuel lines; power-assisted steering products; heating, ventilation and air conditioning (HVAC) under body products; engine and transmission cooling lines; exhaust gas recirculation tubes; and airbag fill tubes.

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