Dana Holding Corporation (ticker: DAN, exchange: New York Stock Exchange (.N))
News Release -
Dana Corporation Awarded Nissan Driveline Business
Will Supply New Nissan Full-Size Pickup with Axles and Propshafts
TOLEDO, Ohio, Jan. 7 /PRNewswire-FirstCall/ -- Dana Corporation
(NYSE: DCN) announced today that it will provide front- and rear-axle
assemblies and propshafts for Nissan's all new 2004 Titan full-size pickup
truck. The new Nissan vehicle, which will be styled, engineered, and
assembled in the United States, will be introduced in late 2003.
"We are extremely excited by this new opportunity to employ our torque and
traction technology expertise on the behalf of Nissan," said Dana Chairman and
CEO Joe Magliochetti. "This important program also adds to the solid growth
Dana is experiencing with overseas manufacturers with U.S. operations."
Along with Dana's torque and traction technologies, the new Nissan pickup
will offer truck owners a package that features a large V-8 engine, a
completely new platform, and increased horsepower, payload, and towing
Axle production is expected to begin in mid 2003. The lightweight,
aluminum, independent front axle assemblies and cast-iron, beam rear axle
assemblies will incorporate several Dana-first innovations, including:
Optional rear electrical locking differential for improved traction;
Improved pinion sealing technology to prevent contamination;
Advanced gear manufacturing for improved strength; life expectancy and
noise; vibration, and harshness (NVH);
Industry-first, one-piece die cast carrier for increased axle strength;
Advanced oil flow design, which improves towing capabilities and
Dana will also produce steel and aluminum propshafts for both 4x4 and 4x2
models. All assemblies include maintenance-free universal joints. The 4x4
rear shaft is an aluminum propshaft selected for its light weight, corrosion
resistance, NVH characteristics, and superior performance.
Other Dana components include fluid routing products such as fuel lines
and hoses, heat exchangers, and engine bearings.
"Dana is the leader in state-of-the-art driveline systems," said Bill
Carroll, President of Dana's Automotive Systems Group. "Our design and
testing expertise in torque and traction technologies was instrumental in
securing this important new business. We are excited by the opportunity to
support this program and to strengthen our relationship with Nissan."
Dana Corporation is a global leader in the design, engineering, and
manufacture of value-added products and systems for automotive, commercial,
and off-highway vehicle manufacturers and their related aftermarkets. The
company employs approximately 70,000 people worldwide. Founded in 1904 and
based in Toledo, Ohio, Dana operates hundreds of technology, manufacturing,
and customer service facilities in 34 countries. The company reported sales of
$10.3 billion in 2001.
SOURCE Dana Corporation
/CONTACT: Jeff Cole of Dana Corporation, +1-419-535-4704, or
/Company News On-Call: http://www.prnewswire.com/gh/cnoc/comp/226839.html/