Dana Corporation to Consolidate Production in Thermal Products Group
14 Dicembre 2005 - 2:49PM
PR Newswire (US)
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. (Logo:
http://www.newscom.com/cgi-bin/prnh/19990903/DANA) 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: http://www.dana.com/.
http://www.newscom.com/cgi-bin/prnh/19990903/DANA
http://photoarchive.ap.org/ DATASOURCE: Dana Corporation CONTACT:
Chuck Hartlage of Dana, +1-419-535-4728, or Web site:
http://www.dana.com/
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