DANA CORP. (OTC:DCNAQ)
Industry: Consumer Goods
Dana Corporation (Dana) is a supplier of axle, driveshaft, frame, and sealing and thermal management products for global vehicle manufacturers. The Company has two primary business units: the Automotive Systems Group (ASG) and the Heavy Vehicle Technologies and Systems Group (HVTSG). ASG primarily supports the original equipment manufacturers (OEMs) of light vehicles, including light trucks (sport utility vehicles, pickup trucks, crossover vehicles and vans) and passenger cars, and manufactures driveshafts for the commercial vehicle market. At December 31, 2005, the Company had 91 facilities in 19 countries. During the year ended December 31, 2005, its largest customers were Ford Motor Company, General Motors Corporation and DaimlerChrysler AG. HVTSG supports the medium-duty and heavy-duty commercial truck (Class 5 through Class 8), bus and off-highway vehicle markets, with more than 90% of its sales in North America and Europe. The primary markets for off-highway vehicles are construction and agriculture. At December 31, 2005, HVTSG had 20 facilities in eight countries. Its largest commercial vehicle customers were PACCAR Inc, Volvo Group and International Truck & Engine Corp. The Company's business units serve three primary markets: automotive, commercial vehicle and off-highway. For the automotive market, Dana makes axles, driveshafts, structural products, chassis, steering and suspension components, and engine sealing and thermal management products. The Company also provides related service parts for light vehicles, including light trucks (pickup trucks, sport-utility vehicles vans and crossover vehicles) and passenger cars. For the commercial vehicle market, the Company produces axles, driveshafts, chassis and suspension modules, ride controls and related modules and systems, engine sealing and thermal management products, and related service parts for Class 5-8 medium- and heavy-duty trucks, recreational vehicles, specialty market vehicles, buses and motor coaches. For the off-highway market, Dana makes axles, transaxles, driveshafts, brakes, suspension components, transmissions, electronic controls, related modules and systems, engine sealing and thermal management products, and related service parts for construction machinery, leisure/utility vehicles, and outdoor power, agricultural, mining, forestry and material handling equipment for use in a variety of non-vehicular, industrial applications. Dana has a number of strategic alliances and joint venture partners that strengthen its marketing, manufacturing and product-development capabilities and broaden its product portfolio. These partners help Dana to better serve its diverse and global customer base. Among them are Bendix Spicer Foundation Brake LLC, Eaton Corporation and GETRAG GmbH & Cie KG. Bendix Spicer Foundation Brake LLC, a joint venture formed by Bendix Commercial Vehicle Systems LLC (Bendix) and Dana, integrates the braking systems expertise from Bendix and its parent, the Knorr-Bremse Group, with the axle and brake integration capability of Dana to offer a range of advanced wheel-end braking systems components and technologies. Eaton and Dana together offer the Roadranger solution, a combination of drivetrain, chassis and safety components and services backed by sales, service and technical consultants called the Roadrangers. Dana has a 30% equity stake in GETRAG GmbH & Cie KG, the parent company of the GETRAG group of companies and a 49% share of GETRAG's North American operations. During the year ended December 31, 2004, the two companies bought a 60% share of Volvo Car Corporation's operations in Koping, Sweden, to form GETRAG All Wheel Drive AB. On March 3, 2006 (the Filing Date), Dana and 40 of its wholly owned United States subsidiaries (collectively, the Debtors) filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) in the United States Bankruptcy Court for the Southern District of New York (the Bankruptcy Court). Neither DCC nor any of the Company's non
As Of: 10/07 00:00 ET
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