American Dana to increase Dongfeng Dana shares to 50%
www.chinatrucks.com: On July 13, American Dana formally increased shares of Dongfeng Dana to reach 50%, and their cooperation starts a new stage after cooperation for seven years.
Cooperation ceremony
DDAC was founded in 2005, belonging to Dongfeng commercial vehicle company, sales revenues in last amounted to 6.65 bn Yuan. Their products include axles for heavy, medium and light trucks, buses and coaches etc. It’s China's biggest commercial axle company with over 7,000 employees.
Huanggang, general manager of Dongfeng
The new board of directors’ comprises of eight members, and Huanggang, general manager of Dongfeng Commercial Vehicle Company, is the president, Aziz Aghili is named as vice president.
"Inspired by fast development of Dongfeng, we expect deeper cooperation with one of the biggest commercial vehicle makers to explore China truck markets and the world," said President and CEO of Dana Global.
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