Dana Looks To Buy Plants From Credit Subsidiary

Law360, New York (May 9, 2007, 12:00 AM EDT) -- Auto parts maker Dana Corp. filed a motion Tuesday with the bankruptcy court requesting permission to buy two plants from a Dana-owned credit agency.

In a motion filed in the U.S. Bankruptcy Court for the Southern District of New York, Dana asked to repurchase plants in Stockton, Calif. and Danville, Ky. from Dana Commercial Credit Corp. The commercial credit company is owned by Dana Credit Corp., a Dana subsidiary that is not part of the bankruptcy proceedings.

In 2001, Dana decided to wind down DCCC’s operations....
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