Supply agreement with Hydro-Quebec leads to Dana acquiring majority stake in new TM4 joint venture

摘要

USA/Canada - Dana Incorporated of Maumee, Ohio, USA and Hydro-Quebec of Boucherville, Quebec, Canada have announced a joint-venture partnership in which TM4 Inc, a subsidiary of Hydro-Quebec, become Dana's source for electric motors, power inverters and control systems. As part of this agreement, Dana is to become a majority shareholder of TM4 in exchange for CAD165m (approximately USD127m). Hydro-Quebec is to retain 45% in the new TM4 joint venture.