Dana Holding Corporation (ticker: DAN, exchange: New York Stock Exchange (.N))
News Release -
Dana Corporation Awarded Toyota South Africa Driveline Business
TOLEDO, Ohio, June 5 /PRNewswire-FirstCall/ --
Dana Corporation (NYSE: DCN) announced today that it will supply carrier
differentials and propshafts to Toyota South Africa for the 2005 Hilux pick-up
truck, built on the same platform as the Toyota Tacoma.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
Dana secured this new business in part due to its ability to support
Toyota South Africa locally. Dana will manufacture these products at its
state-of-the assembly facility in Uitenhage, South Africa. The facility, which
currently produces axles, will add propshaft manufacturing capability to
fulfill the contract. This will be the first time Dana has manufactured
propshafts in South Africa. Production is scheduled to begin in 2005.
"Dana's industry-leading technology and manufacturing processes, combined
with our global reach, were instrumental in helping us secure this new
business," said Bill Carroll, president of Dana's Automotive Systems Group.
"We look forward to this opportunity to strengthen our relationship with
Toyota in South Africa, and around the world."
In addition to this new South African production, Dana supports this
global Toyota pick-up platform by providing axles, propshafts, and frames out
of Dana facilities in South America, and propshafts and frames out of
facilities in North America.
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 more than 60,000 people worldwide. Founded in 1904 and based
in Toledo, Ohio, Dana operates hundreds of technology, manufacturing, and
customer service facilities in 30 countries. The company reported 2002 sales
of $9.5 billion.
SOURCE Dana Corporation
/CONTACT: Jeff Cole of Dana Corporation, +1-419-535-4704, or
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/Web site: http://www.dana.com/
CO: Dana Corporation; Toyota South Africa
ST: Ohio, South Africa
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7267 06/05/2003 08:37 EDT http://www.prnewswire.com