Dana Corporation to supply Spicer driveshafts to Volvo, Renault in Europe

Toledo, Ohio, October 9 -- Dana Corporation announced today that it has been selected by Volvo Powertrain to supply Spicer(R) driveshaft assemblies for Volvo Trucks, Renault Trucks, Volvo Bus Corporation, and Volvo Construction Equipment products in the European market.

The five-year supply agreement, which runs through 2007, provides that Dana will supply Spicer Compact 2000, Spicer PEP, Spicer SPL, and Spicer Italcardano wing-style driveshafts.

Nick Cole, president of Dana's Heavy Vehicle Technologies and Systems Group, said, "Dana has long been a proud supplier to Volvo and Renault, and we are very pleased to build upon this valued relationship. Strong customer focus in both business philosophy and processes is a key tenet of our driveshaft group, and we are pleased to continue delivering this outstanding level of product quality and professional service to Volvo Powertrain."

Dana's Commercial Vehicle Systems unit designs, manufactures, and markets front-steer, rear-drive, trailer, and auxiliary axles; driveshafts; steering shafts; brakes; suspensions; and related systems, modules, and services for the commercial vehicle market.

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 approximately 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 sales of US$9.5 billion in 2002.