Dana wins supply contracts amidst efforts to merge with GKN unit
(Reuters) - Auto components maker Dana Inc (DAN.N) said on Thursday it would supply front and rear axles for the next generation of Jaguar and Land Rover (TAMO.NS) luxury vehicles in a contract worth 300 million pounds ($423.42 million).
The company has also been selected as the driveline supplier for General Motors Co's (GM.N) certain new Chevrolet Silverado chassis cab trucks, whose production is set to begin in late-2018.
Dana, which has supplied driveline technologies to GM and its predecessors for more than a century, did not provide an amount for the Chevrolet contract.
Dana's total investment for the program related to the luxury vehicles is expected to be about 21 million pounds, it said.
The contract wins come as Dana has been in the midst of a bidding war with Melrose (MRON.L) to merge with British engineering company GKN's (GKN.L) automotive business.
(Reporting by Sanjana Shivdas and Arunima Banerjee in Bengaluru; Editing by Shounak Dasgupta)
