Dana Corp. has agreed to sell its Australian Truckline Parts Centres business to International Trucks Australia Pty. Ltd., a subsidiary of Italian truck maker Iveco SpA.
Purchase price was not disclosed. The sale is expected to close in first quarter 2000.
Truckline is Australia's largest independent distributor of heavy duty parts with 24 outlets and 13 driveline repair and remanufacturing facilities. Sales in 1998 were approximately $36 million (AU Dollars 55 million).
"We are very pleased with the agreement we have reached," said Rick Clayton, president of Dana's Heavy Truck Group. "The sale of this operation fits our strategic plan and allows us to concentrate on growing our core business in the region."