Dana Announces New Structural Product Business Totaling

Some $570 Million Annually Toledo, Ohio (ots-PRNewswire) - Dana Corporation (NYSE: DCN) today announced new structural product business with several original equipment manufacturers totaling nearly $570 million in annualized sales. The global business, most of which was secured within the last quarter, ranges from five to eight years in duration. It supports the production of a variety of platforms -- from light-trucks and sport utility vehicles to Class 8 trucks -- in many new geographic regions, with production generally scheduled to begin in 2002 for model-year 2003 platforms. The new structural products incorporate a mixture of technological advances, including: * High-pressure hydroforming, a process that forces water into a die at high pressure to expand steel tubes into shape. Hydroforming is a precise way to reduce weight, improve quality, and allow for more innovative designs while maintaining structural strength. * Virtual prototyping, a process that uses a range of advanced computer- aided engineering (CAE) tools to create designs before the actual structure is produced. Advancements in CAE tools are allowing Dana to take the structures through a repetitive design cycle that simulates "real world" conditions and reduces the number of "hard" prototypes needed before production, thus reducing development costs and increasing speed to market. * Lightweight innovations through the use of advanced design and forming techniques, and processes such as tailor blanking and advanced joining and forming technologies. "Dana is taking the lead in the advanced engineering and production of structural products that are lighter in weight and have improved performance characteristics," said Mike Greene, vice president of Dana's Structural Products Group. "Using these new technologies, we can help customers to develop innovative new designs that further enhance performance." Bill Carroll, president of Dana's Automotive Systems Group, said, "This significant new business is a direct result of using innovation to bring more value to our customers. By leading the way in technology, Dana helps its customers create new vehicle architectures." The Dana Automotive Systems Group manufactures Spicer axles and driveshafts, Parish structural products, FTE Automotive clutches and brakes, and modules and systems. The Automotive Systems Group combines the synergies of Dana's largest operating divisions to serve its customers anywhere in the world. One of the world's largest independent suppliers to vehicle and engine manufacturers and related aftermarkets, Dana Corporation produces components and systems found under the vehicles and under the hoods of millions of products. Founded in 1904 and based in Toledo, Ohio, the company operates some 340 major facilities in 32 countries and employs more than 86,000 people. Dana reported sales of $12.5 billion in 1998. Dana's Internet address is www.dana.com. ots Original Text Service: Dana Corporation Internet: http://www.newsaktuell.de Contact: Gary Corrigan of Dana Corporation (USA) 419-535-4813 Company News On-Call: http://www.prnewswire.com/comp/226839.html or Fax, (USA) 800-758-5804, ext. 226839 Web site: http://www.dana.com


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