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Dana Completes Sale of French Distribution Operations

11 December 1997

Dana Completes Sale of French Distribution Operations

    TOLEDO, Ohio, Dec. 11 -- Dana Corporation today
announced the completion of the sale of its distribution operation in France
to Spanish automotive components distributor Cecauto S.A.
    Jack Simpson, Dana chief financial officer, said, "This move allows Dana
to better focus on the products and systems we consider strategic to our
future growth.  This move is part of our overall strategy to concentrate on
core businesses and divest underperforming assets."
    This is the eighth divestiture completed by Dana this year and the latest
in a series of strategic moves that Dana has taken in 1997 to focus on its
core businesses.  Among them, the company previously sold its other European
warehouse distribution facilities in the United Kingdom, the Netherlands, and
Portugal.  This transaction represents the completion of the sale of Dana's
warehouse distribution operations in Europe.
    Dana also has sold its U.S. heavy-truck structural components operation,
vehicular clutch business, transmission business, leaf spring manufacturing
assets, flat rubber products business, and a 49-percent interest in Korea
Spicer.
    Also this year, Dana announced its intention to purchase Eaton
Corporation's heavy axle and brake operations and has purchased Clark-Hurth
Components and the Sealed Power Division of SPX Corporation.  Additionally, it
has entered into various joint ventures, including a 75-percent share of
Filtron, a Polish manufacturer of filtration products.
    Dana Corporation is a global leader in the engineering, manufacture, and
distribution of products and systems for the automotive, heavy truck, off-
highway, engine, and industrial markets.  It also operates a leasing services
business, Dana Credit Corporation.  Founded in 1904 and based in Toledo, Ohio,
Dana operates facilities in 30 countries and employs more than
48,000 people. The Internet address for Dana's home page is http://www.dana.com.

SOURCE  Dana Corporation