Dana Corporation Combines Two Business Units

TOLEDO, Ohio, March 22 -- Dana Corporation announced today the combination of its Automotive Systems Group and Engine and Fluid Management Group into a single business unit. The new unit, which will retain the Automotive Systems Group name, will enable Dana to better focus its strengths and resources on its global, light-vehicle customers.

Mike Laisure, president of the former Engine and Fluid Management Group, will lead the newly combined Automotive Systems Group. This business unit will bring together Dana's light-vehicle driveline and powertrain product offerings, as well as its related systems assembly, management, and integration services.

"This move supports Dana's continuing actions to align our resources with the needs of our global customer base -- and to integrate our light-vehicle sales and marketing teams into one, customer-aligned, global organization," said Dana Chief Executive Officer Michael J. Burns. "We believe that improved customer focus will enhance our ability to grow our top line, which in turn, will contribute to improved bottom-line performance as well.

"Mike Laisure's extensive product knowledge and process experience, as well as his solid customer relationships, make him ideally suited to lead the development and growth of this group," Mr. Burns added.

In a further move, Dana announced that Nick Cole is assuming responsibility for its Structural Solutions business, in addition to his responsibilities as president of the Heavy Vehicle Technologies and Systems Group.

"Nick Cole has been deeply involved in our structures business during his 35-year career with Dana. He is the ideal person to lead the business through this challenging growth period of new product launches," Mr. Burns said.