Dana Corp. Buys 70% of Centrust, S.A.

04/04/96

United Press International reported that Dana Corporation has bought a 70 percent share of Centrust, S.A., an Argentine Holding company with investments in the automotive industry. The price of the transaction was not disclosed.

Centrust owns Armetal Industria Argentina de Metales S.A., an Argentine automobile parts and modular systems manufacturer, and Armetal owns 76% of a brake fluid and rubber products manufacturer (Farloc S.A.) and 50% of a company that assembles stamped frames, siderails and cross members for trucks (EASA).

Dana has operated profitably in South America for 40 years and expects South American vehicle sales to rise by more than 30% by the century's end.

Armetal operates an iron foundry, a machining plant, and an assembly plant. It produces hubs, brake drums, brake rotors, brake calipers, brake shoes, master cylinders, brake cylinders, and clutch plates. Farloc manufactures brake fluid and parts for original equipment and as after market parts. Both Armetal and Farloc supply the Argentine market and export to the U.S., Canada, Europe, and Africa.

Paul Dever -- The Auto Channel