Metaldyne Acquires Dana Operation in Greensboro, NC

PLYMOUTH, Mich., July 2 -- Metaldyne Corporation announced today that it has completed the acquisition of the Greensboro, NC operation of Torque-Traction Manufacturing, Inc., a subsidiary of Dana Corporation . The 220,000-square-foot facility manufactures steering knuckles for passenger car and light truck applications. The plant, built in 1994, has 150 employees.

"This acquisition gives Metaldyne the added capacity we need to support future new business programs that launch in the next 12 to 36 months," said Tim Leuliette, chairman, president and CEO. "As we grow, we look forward to bringing new business into the facility and giving the Greensboro community an opportunity to grow along with us. Most importantly, we are excited to welcome the employees of the Greensboro plant as part of the Metaldyne team."

About Metaldyne

Metaldyne is a leading global designer and supplier of metal-based components, assemblies and modules for transportation-related powertrain and chassis applications including engine, transmission/transfer case, wheel-end and suspension, axle and driveline, and noise and vibration control products to the motor vehicle industry. The company serves the automotive segment through its Chassis, Driveline & Transmission, and Engine Group.

Headquartered in Plymouth, Mich., Metaldyne has annual revenues of $1.5 billion. The company employs over 7,250 employees at over 50 facilities in 11 countries.

  For more information, please visit http://www.metaldyne.com/ .

  About Dana Corporation

Dana Corporation is a global leader in the design, engineering, and manufacture of value-added products and systems for automotive, commercial, and off-highway vehicle manufacturers and their related aftermarkets. The company employs more than 60,000 people worldwide. Founded in 1904 and based in Toledo, Ohio, Dana operates hundreds of technology, manufacturing, and customer service facilities in 30 countries. The company reported 2002 sales of $9.5 billion.