Dongfeng Motor to release partial ownership of subsidiary autoparts supplier

Gasgoo.com (Shanghai February 18) - Dongfeng Motor Corporation is preparing to transfer the full 9.81% of its ownership of Dongfeng Dana Axle Company, Reuters China reported today. The company is transferring the stock at its CBEX value of 170 million yuan ($25.9m). Dongfeng Dana Axle had four primary owners, Dongfeng Motor Company, Ltd. (controlling the majority 75.23%), Dongfeng Industrial Co., Ltd. (controlling 10.96%), Dongfeng Motor Corporation and Dana Mauritius Ltd. (4%).

Dongfeng Dana Axle engages in research, design, manufacture, development and sales of various autoparts, and saw net income of 210 million yuan ($32m) among operational revenue of 7.04 billion ($1.07b) last year.