Dana boosts stake in Japanese seal maker

TOLEDO, Ohio (Oct. 22)--Dana Corp. has increased its ownership stake in Nippon Reinz Co. Ltd., a Japanese sealing products maker.

The Toledo company now owns 53.7 percent of the seal maker with venture partner Mitsubishi Cable Industries retaining 46.3 percent. Nippon Reinz products gaskets, thermal and acoustical protective shields and other components.

The move makes Nippon Reinz Dana's first fully consolidated manufacturing entity in Japan, the company said.

"In addition to manufacturing for the Japanese and export markets, Nippon Reinz is a technology liaison to Dana's global sealing products operations," said Mike Laisure, president of Dana's Automotive Systems Group. "Looking ahead, Nippon Reinz will play a key role in the development of fuel-cell components for Japanese customers, and Dana's future research and development initiatives in the Asia-Pacific region will be supported by Nippon Reinz."

From Rubber & Plastics News