Hendrickson completes Dana trailer purchase

Published Thursday, February 01, 2007

Hendrickson president and CEO Gary Gerstenslager announced the completion of the company's acquisition of the trailer axle manufacturing assets of Dana Corp. on January 5. The transaction included the operations and assets at the Dana plant in Lugoff, SC, as well as inventory from Dana Canada Corp.'s facility in Barrie, Ont. Total purchase price was $26.5 million. In addition, Gerstenslager announced that a $2-million escrow account has been set up for the purchase of trailer axle production equipment, inventory and other assets from Dana' Chinese subsidiary in Wuxi, China, by an affiliate of Hendrickson International Corp.

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