Dana Announces Acquisition of Brazilian Affiliate

3 March 1998
Dana Announces Acquisition of Brazilian Affiliate

    TOLEDO, Ohio, March 3 -- Dana Corporation today
announced that it has acquired full ownership of SIMESC-Parish, its Brazilian
structural components manufacturing company, from its joint-venture partner,
Wiest, S.A.  The company will be renamed Dana Parish Produtos Estruturais,
S.A.
    Dana Parish Produtos Estruturais, S.A. employs approximately 350 people at
facilities in Osasco, in the state of Sao Paulo, and Curitiba, in the state of
Parana.  These operations produce a range of structural products, including
full frames and heavy-truck side rails, for customers such as Scania AB, Volvo
AB, Daimler-Benz AG, Chrysler Corporation, and Ford Motor Company.
    Dana formerly held a 60-percent interest in SIMESC-Parish, which it
acquired from Wiest on January 1, 1995.  Since that time, SIMESC-Parish has
expanded its capabilities to include state-of-the-art processes such as powder
painting and roll forming.  Dana currently operates 26 facilities in Brazil.
    "This acquisition is important as we increase the integration among our
global structural components operations and expand Dana's capacity to develop
modular systems," said Bill Carroll, president of Dana's Automotive Components
Group.
    Cedomir Eterovic, president of Dana South America, said, "This move allows
us to better serve our customers throughout the region and confirms our
commitment to future growth.  Also, we are excited because it will help us
bring new products and technologies into the region."
    Dana Corporation is a global leader in the engineering, manufacture, and
distribution of products and services for the automotive, engine, heavy truck,
off-highway, industrial, and leasing markets.  Founded in 1904 and based in
Toledo, Ohio, Dana operates facilities in 30 countries and employs more than
50,000 people.  The company reported record sales of $8.3 billion in 1997.
The Internet address for Dana's home page is http://www.dana.com.

SOURCE  Dana Corporation