Auto-Parts Maker Dana Corp. to Cut 300 Jobs by Closing North Carolina Plant

TOLEDO, Ohio December 20, 2004; The AP reported that auto-parts maker Dana Corp. will cut 300 jobs by closing a North Carolina plant and reducing its work force in Belgium.

The company will halt production at its Statesville, N.C., plant by September and cut jobs in Brugge, Belgium. Both plants make transmissions and axles for off-highway vehicles.

On Monday, Toledo-based Dana said the moves will cost it $25 million.

Dana expects the realignment to be completed in December 2005.

The company said the moves were necessary to strengthen long-term competitiveness.

In 2003, the company earned $130 million on sales of $8.07 billion.

Dana currently employs 45,000 worldwide.