Dana Plans to Restructure to Focus on Drivetrain Products

October 21, 2005 — Dana Corp., Toledo, Ohio, announced it would be selling off non-core businesses, closing two plants, and reducing 5 percent of the salaried workforce to improve its financial performance in 2006.

 

In an effort to focus on its light- and heavy-vehicle drivetrain products, associated structures, sealing, and thermal products, Dana plans to sell its engine hard parts, fluid products, and pump products businesses, which currently employ 9,800 people worldwide and represented $1.3 billion in sales in 2004.

 

Dana also will close two facilities in its Automotive Systems Group and shift production into several other operations to balance capacity and lower costs. These facilities include the Buena Vista, Va., axle facility and the Bristol, Va., driveshaft facility.