Dana Holding Corporation (ticker: DAN, exchange: New York Stock Exchange (.N))
News Release -
Dana Corporation Providing Propshafts, Full-Perimeter Frame for Redesigned 2007 Toyota Tundra Pickup Truck
Supplier Earns Technology Award for Innovative Drivetrain Product
TOLEDO, Ohio, Feb. 27 /PRNewswire-FirstCall/ -- Dana Corporation announced
today that it has begun supplying steel and bi-metallic Spicer(R) propshafts,
as well as full-perimeter frames, for the redesigned 2007 Toyota Tundra pickup
Dana is supplying 100 percent of the propshafts for both the two-wheel-
and four-wheel-drive versions of the Tundra. While the one-piece design is
made of steel, the two-piece propshaft configuration uses a unique bi-metallic
design, resulting in improved noise, vibration, and harshness. This is the
first time that Dana has supplied bi-metallic propshafts to Toyota.
The bi-metallic propshaft earned Toyota's Award for Technology and
Development, which Dana accepted the at the automaker's Global Suppliers
Convention in Nagoya, Japan, on Friday. Toyota reviewed more than 200
supplier applications before it selected winners of the 2007 awards.
"Dana is an industry leader in developing new designs and material uses to
help our customers achieve improved performance," said Michael J. Burns, Dana
chairman and CEO. "It's an honor to have our engineering expertise recognized
by a respected customer such as Toyota."
"The redesigned 2007 Tundra presented Dana's first opportunity to supply
Toyota with bi-metallic propshafts," said Bob Fesenmyer, president, business
development. "This product is just one example of Dana's dedication to
providing innovative, valuable technologies to help our customers deliver a
The propshafts are manufactured at Dana's facility in Gordonsville, Tenn.
The Dana frames come from the company's Owensboro, Ky., facility, which is
one of the industry's leading assemblers of advanced full-perimeter frames.
In recognition of its lean manufacturing approach, Dana's Owensboro facility
has previously been honored as one of IndustryWeek magazine's Ten Best North
American Manufacturing Facilities.
The Owensboro facility has flexibility to manufacture two significantly
different frames on a single line with zero changeover time -- which means
that the changeover takes place while the frame subassembly moves from one
station to the next. Due to the lean manufacturing approach, the Owensboro
facility maintains less than one day's inventory, and the lead time from
request to delivery is fewer than six hours.
Mr. Fesenmyer added, "We value our close relationship with Toyota that
dates back to the 1980s. Through our joint commitment to collaboration, we
are able to deliver innovative new technologies that contribute to enhanced
efficiency, logistics, and throughput, while also maintaining a high level of
About Dana Corporation
Dana is a leading supplier of drivetrain, chassis, structural, and engine
technologies. Dana people design and manufacture products for every major
vehicle and engine producer in the world. Based in Toledo, Ohio, with
operations throughout 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 annually. The company's
continuing operations reported sales of $8.6 billion in 2005. Dana's Internet
address is www.dana.com.
Dana and certain of its U.S. subsidiaries are operating under Chapter 11
of the U.S. Bankruptcy Code as debtors in possession. Information about the
bankruptcy proceedings can be found at www.dana.com/reorganization. While
Dana continues its reorganization under Chapter 11, investments in its
securities are highly speculative. Although shares of Dana common stock
continue to trade on the OTC Bulletin Board (OTCBB) under the symbol "DCNAQ,"
the trading prices of the shares may have little or no relationship to the
actual recovery, if any, by the holders under any eventual court-approved
reorganization plan. The opportunity for any recovery by holders of Dana
common stock under such reorganization plan is uncertain and shares of Dana
common stock may be cancelled without any compensation pursuant to such plan.
SOURCE Dana Corporation
CONTACT: Jeff Cole of Dana Corporation, +1-419-887-3535, or
9364 02/27/2007 15:32 EST http://www.prnewswire.com