Dana Holding Corporation (ticker: DAN, exchange: New York Stock Exchange (.N))
News Release -
Dana Corporation to Consolidate Production in Thermal Products Group
TOLEDO, Ohio, Dec. 14 /PRNewswire-FirstCall/ -- Dana Corporation
(NYSE: DCN) today announced it will consolidate the North American operations
of its Thermal Products group by mid 2006 to reduce operating and overhead
costs and strengthen competitiveness.
Dana facilities in Danville, Ind.; Sheffield, Pa.; and Burlington, Ont.
with a total of 200 people will be closed. Production from these locations
will be moved to Dana plants in St. Clair, Mich., and Cambridge, Ont. The
restructuring charges related to these closures are expected to be immaterial.
"The intense competitiveness of today's automotive industry requires
continuous cost-reduction and efficiency efforts across the board," said Dana
Chairman and CEO Mike Burns. "This consolidation is difficult, but necessary
to strengthening the market position of our Thermal Products group, which we
consider a core Dana business."
Some people from Danville, Sheffield, and Burlington will be placed at
other Dana facilities, and the company will make employment counseling,
unemployment benefits, skills training, and outplacement support available to
the other affected employees.
Dana people design and manufacture products for every major vehicle
producer in the world. Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which collectively
produce more than 60 million vehicles every year. A leading supplier of axle,
driveshaft, engine, frame, chassis, and transmission technologies, Dana
employs 46,000 people in 28 countries. The company is based in Toledo, Ohio,
and reported sales of $9.1 billion in 2004. Dana's Internet address is:
SOURCE Dana Corporation
/CONTACT: Chuck Hartlage of Dana, +1-419-535-4728, or
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/Web site: http://www.dana.com/
CO: Dana Corporation
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6797 12/14/2005 08:49 EST http://www.prnewswire.com