Dana Deal Worth $100 Mil.

TOLEDO, Ohio--Dana Corp. has been selected to provide front and rear axle assemblies and front and rear driveshaft assemblies for light trucks and sport-utility vehicles to be produced in the United States by a major Japanese automotive manufacturer beginning in 2004. The combined annual value of this new business is estimated at $100 million.

“Dana’s strong technology was integral to securing this new opportunity,” said Bill Carroll, president of Dana’s Automotive Systems Group. “The advanced torque-management capability of our axle assemblies and lightweight, but durable, characteristics of our driveshaft products will play a key role in meeting the requirements of this demanding application.”

Dana will begin production of Spicer rear axle assemblies for the unnamed customer in May 2003. Outfitted with limited-slip differentials, the assemblies will be produced at Dana’s Columbia, Mo., Spicer Light Vehicle Axle Group facility. Axle volume is expected to total about 180,000 units annually.

In addition, Dana will support the program with its Spicer 1310 Series front and rear steel main driveshafts, Spicer Life maintenance-free universal joints, and 1350 Series Spicer Lite aluminum driveshafts. The products will be manufactured at Spicer Driveshaft’s Gordonsville, Tenn., facility beginning in 2003. Combined driveshaft production is expected to total some 250,000 assemblies at full production.

“We are delighted to support the light axle and driveshaft needs of this important new program with this series of leading-edge, quality products,” said Dana Chairman and Chief Executive Officer Joe Magliochetti. “This quality reputation was further validated with the recent award of the nation’s highest quality honor--the Malcolm Baldrige National Quality Award--to our Spicer Driveshaft unit.”

Dana is one of the world’s largest suppliers to vehicle manufacturers and their related aftermarkets. Founded in 1904 and based in Toledo, Ohio, the company operates some 320 major facilities in 32 countries and employs about 80,000 people.

Dana’s Internet address is www.dana.com.