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Dana Recognized as a 'Most-Admired Manufacturer' in the United States

25 June 1999

Dana Corporation Recognized as a 'Most-Admired Manufacturer' in the United States

    TOLEDO, Ohio, June 24 -- Dana Corporation has
been recognized as a "Most-Admired Manufacturer" in the United States in the
June issue of "Start Magazine," a business publication focused on technology
issues.  In recognizing Dana, the magazine emphasized Dana's strategic
objectives, focus on technology, employee involvement, and reputation.
    According to the publication, "not only are (Dana's) products held in
worldwide esteem, but its executives are recognized for distinguished
achievement."
    "We are proud to be named a most-admired manufacturer," said Gary
Corrigan, Dana vice president, corporate communications.  "It shows that our
efforts to grow our business while focusing on our core competencies are
widely recognized as being successful."
    Dana is renowned for its style of management and its emphasis on employee
participation and input.  In addition to an employee ideas program that
generates approximately two million ideas per year, Dana has a goal of
40 hours of classroom education every year for all Dana people.
    In recent years, Dana has intensified its focus on strategic growth in
international markets.  In 1998, 41 percent of Dana's sales were to countries
other than the United States.  Dana's strategic plan calls for 50 percent of
the company's sales to go to international markets by the year 2000.
    Dana reported record first-quarter sales of $3.4 billion for 1999, an
increase of nearly 5 percent over the same period last year.   Net income for
the period rose 15 percent to a record $162 million, and earnings per share
for the quarter rose more than 15 percent to 97 cents.  The quarter was the
seventh consecutive first quarter with record sales and Dana's sixth
consecutive first quarter with record operating profits.
    Dana Corporation is one of the world's largest independent suppliers to
vehicle manufacturers and their related aftermarkets.  Founded in 1904 and
based in Toledo, Ohio, the company operates some 330 major facilities in
32 countries and employs more than 86,000 people.  The company reported sales
of $12.5 billion in 1998.  Dana's Internet address is http://www.dana.com .