Dana Corporation Leasing Operation Receives 1996 Malcolm Baldrige National Quality Award
Oct 16, 1996
TOLEDO, Ohio, Oct. 16 /PRNewswire/ -- President Clinton, through the Department of Commerce, today awarded the Malcolm Baldrige National Quality Award to Dana Corporation's (NYSE: DCN) leasing operation, Dana Commercial Credit Corporation. Based in Toledo, Ohio, Dana Commercial Credit Corporation is a diversified leasing company with offices throughout the United States, Canada, the United Kingdom, and continental Europe. Dana Commercial Credit serves a wide range of industries and markets, providing specialized leasing products to meet the individual needs of customers. As of December 31, 1995, they had approximately $1.4 billion in assets and had accumulated a lease portfolio equating to $3.7 billion of original equipment costs. "We are delighted to be honored with this award which recognizes Dana Commercial Credit's commitment to quality products and services," said Ed Shultz, chairman and CEO of Dana Commercial Credit. "The people of Dana Commercial Credit are the real winners of this award. They have worked incredibly hard to build a service culture squarely aimed at satisfying customers." Since 1992, Dana has used its own Quality Leadership Awards, based on the Baldrige criteria to evaluate and improve the performance of Dana divisions in key quality categories. "We're teaching people throughout Dana to use the Baldrige standards to measure and improve products and services," said Dana Chairman and CEO Southwood J. Morcott. "This award shows us the process is working." Dana Commercial Credit's Dealer Products Group was the sole recipient of the 1995 Michigan Quality Leadership Award, a state-level award, based on the Baldrige criteria. To date, 12 Dana Corporation sites have received state-level quality awards. To win the Malcolm Baldrige National Quality Award, Dana Commercial Credit underwent a rigorous, three-step evaluation: an independent review of Dana Commercial Credit's written application by 10 to 12 examiners from public and private sectors, a consensus meeting among seven Baldrige examiners and a site visit by the examiners. Seven criteria were measured: leadership, information and analysis, strategic planning, human resource development and management, process management, business results, and customer focus and satisfaction. The Malcolm Baldrige National Quality Award, often described as "the standard of business excellence" was established by Congress in 1987 to promote quality awareness, recognize the quality achievements of companies and publicize successful quality strategies. In conjunction with private industry, the Commerce Department's National Institute of Standards and Technology manages the award program that was named in honor of the late Secretary of Commerce. Since 1987, 28 companies have won the Baldrige Award to date. Two awards may be given in each of three categories: manufacturing, service and small business. Dana Commercial Credit has won the award in the service category. Three other awards were given to companies in the manufacturing and small business categories in 1996. Since its inception, only six companies have won in the service category. The last service award was issued in 1994. Dana Corporation is a global leader in the engineering, manufacturing and distribution of products and systems for the vehicular, industrial and mobile off-highway markets. Founded in 1904 and based in Toledo, Ohio, Dana operates facilities in 29 countries with 45,000 people. Its 1995 sales were $7.6 billion. Named in 1995 by Financial World magazine as one of the "Best 100 Growth Companies," Dana is noted for its style of management and its commitment to innovation. It has 38 product research and development centers worldwide. SOURCE Dana Corporation CONTACT: Gary Corrigan, Director-Corporate Communications, of Dana Corporation, 419-535-4813