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Dana sells bulk of Warner Electric to Colfax

01 April, 2000

The Dana Corporation has sold most of its global Warner Electric business - including all of its industrial products operation and part of is electric motors business - to the Colfax Corporation for an undisclosed amount. The divested businesses had sales of about $250m last year and employ some 3,000 people at 22 sites worldwide.

Colfax, a privately owned US business, was founded in 1995, and operates in two main segments: industrial positioning where its brands include Boston Gear, Ameridrives Couplings, Nutall Gear, and Morse controls; and fluid handling, where it owns the Allweiler and Imo pumps businesses.

It claims to be the North American market leader in rotary pumps and, before the Warner deal, employed around 3,500 people. Its European headquarters is in Switzerland. Colfax`s power transmission group formed three years ago, has sales worth $900m. Together with Colfax`s automation division (which includes Superior Electric and Fincor Electronics), it accounts for more than half of Colfax`s sales.

Charles Nimes, president of Colfax`s power transmission group, points out that its two flagship brands, Boston Gear and Warner Electric, have more than 200 years of power transmission experience between them.

"Their market positions will get stronger though this acquisition," he predicts. "It is a great strategic fit." Dana has kept some Warner operations to strengthen its new motor and electronics systems division.

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