Dana Corporation Expands Global Supply Presence, Will Provide Components for New Honda Car in South America
Oct 13, 2003
TOLEDO, Ohio, Oct. 13 /PRNewswire-FirstCall/ -- Dana Corporation (NYSE: DCN) today announced that it has been selected to supply suspension components, including ball joints and stabilizer arms, for the Honda Fit, Honda's newest vehicle for the South American market. (Logo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA) Manufactured in Brazil, the Honda Fit will be exported to all of the major countries in South America. "Honda is known worldwide for its advanced technologies and strict quality standards. Through this agreement, Honda has recognized Dana's excellence in product quality and customer satisfaction," said Bill Carroll, Dana's acting president and chief operating officer. "Supply of these components further demonstrates Dana's commitment to be a global partner to its customers." Dana will manufacture its Nakata(R) brand components at a facility in Diadema, Sao Paulo, Brazil. This is the first time Dana products manufactured in Brazil will be incorporated into Honda vehicles. The stabilizer arms, essential for the comfort and stability of the vehicle, are made using latest advanced technologies. They attach to the shock absorbers and link the stabilizer bar and front suspension assemblies. The ball joints are components of utmost importance, since they support the vehicle's wheel assembly. Dana has had been a supplier to Honda for many years, providing automotive systems and engine components to the automaker for its automotive, small- engine, and recreational-vehicle businesses. Dana Corporation is a global leader in the design, engineering, and manufacture of value-added products and systems for automotive, commercial, and off-highway vehicle manufacturers and their related aftermarkets. The company employs approximately 60,000 people worldwide. Founded in 1904 and based in Toledo, Ohio, Dana operates hundreds of technology, manufacturing, and customer service facilities in 30 countries. The company reported sales of $9.5 billion in 2002.