Dana sold its aftermarket parts division, with 52 facilities and 13,000 employees worldwide, to the Cypress Group, a New York private equity investment group, for $1 billion. The division boasted sales of $2 billion last year.
The new company is looking for a headquarters site that is close to leading automotive companies and has a skilled work force familiar with the industry. Jerry McCabe, Affinia's vice president of marketing, says Ann Arbor fits that description perfectly. It is also an attractive option for employees who, like himself, were based here with Dana.
The company has already picked out a site near the Ann Arbor airport for its headquarters and is negotiating a package of tax incentives with the state. According to McCabe, the state of Ohio is also actively wooing the company, which also has a number of employees in the Toledo area where Dana is based.
"The people in Ohio have come to Affinia with some pretty good incentives to stay," McCabe says. "I think it's going to come down to where the best incentives are."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
