Dana to buy bearings company from Federal-Mogul
By Staff -- Purchasing, 1/14/1999 2:00:00 AM
Dana Corp. is the winning bidder for certain bearings manufacturing operations being sold by Federal-Mogul Corp. Dana will pay $430 million for the Glacier Vandervell Bearings Group and other engine assets that were part of T&N PLC, which was acquired recently by Federal-Mogul.
Dana, based in Toledo, Ohio, and Federal-Mogul, Southfield, Mich., are both major tier-one automotive suppliers. Dana said the acquisition will give it installations in both Europe and North America that produce parts for both original equipment and replacement markets.
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