Dana Corporation to Sell Dallas, Texas, Fluid Systems Assets

Apr 04, 2001, 01:00 ET from Dana Corporation

    TOLEDO, Ohio, April 4 /PRNewswire/ -- Dana Corporation (NYSE:   DCN) today
 announced that it has reached an agreement to sell the assets of its Dallas,
 Texas, Fluid Systems operation to the Maxair division of Standard Motor
 Products, Inc. (NYSE:   SMP).
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
     Terms of the transaction, which is expected to close in the next 10 days,
 were not released.
     The operation primarily manufactures evaporator, tube and hose assemblies;
 and fin-tube bundles for the automotive HVAC aftermarket.  Sales for the
 operation, which employs approximately 30 people, were approximately
 $7 million in 2000.  The facility is part of the Thermal Management Products
 Division of Dana's Fluid Systems Group.
     Mike Laisure, president of the Fluid Systems Group, said, "The sale of
 this operation is representative of an ongoing realignment of our strategic
 business unit with Dana's 'Transformation 2005' objectives.  We have
 streamlined our SBU from nine divisions to four, and we are taking other
 decisive actions that will be of benefit to our customers and our
 shareholders."
     Recently, Dana announced that it would be closing the Kendallville, Ind.,
 Fluid Systems facility -- consolidating production of fuel lines and fuel
 senders into other Dana facilities.
     Dana Corporation is one of the world's largest suppliers to vehicle
 manufacturers and their related aftermarkets.  Founded in 1904 and based in
 Toledo, Ohio, the company operates some 300 major facilities in 35 countries
 and employs more than 75,000 people.  The company reported sales of
 $12.3 billion in 2000.  Dana's Internet address is www.dana.com .
 
 

SOURCE Dana Corporation
    TOLEDO, Ohio, April 4 /PRNewswire/ -- Dana Corporation (NYSE:   DCN) today
 announced that it has reached an agreement to sell the assets of its Dallas,
 Texas, Fluid Systems operation to the Maxair division of Standard Motor
 Products, Inc. (NYSE:   SMP).
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
     Terms of the transaction, which is expected to close in the next 10 days,
 were not released.
     The operation primarily manufactures evaporator, tube and hose assemblies;
 and fin-tube bundles for the automotive HVAC aftermarket.  Sales for the
 operation, which employs approximately 30 people, were approximately
 $7 million in 2000.  The facility is part of the Thermal Management Products
 Division of Dana's Fluid Systems Group.
     Mike Laisure, president of the Fluid Systems Group, said, "The sale of
 this operation is representative of an ongoing realignment of our strategic
 business unit with Dana's 'Transformation 2005' objectives.  We have
 streamlined our SBU from nine divisions to four, and we are taking other
 decisive actions that will be of benefit to our customers and our
 shareholders."
     Recently, Dana announced that it would be closing the Kendallville, Ind.,
 Fluid Systems facility -- consolidating production of fuel lines and fuel
 senders into other Dana facilities.
     Dana Corporation is one of the world's largest suppliers to vehicle
 manufacturers and their related aftermarkets.  Founded in 1904 and based in
 Toledo, Ohio, the company operates some 300 major facilities in 35 countries
 and employs more than 75,000 people.  The company reported sales of
 $12.3 billion in 2000.  Dana's Internet address is www.dana.com .
 
 SOURCE  Dana Corporation

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