Dana Corporation Announces Agreement to Sell Parish Structural Products Operation in Thailand

    TOLEDO, Ohio, May 21 /PRNewswire-FirstCall/ -- Dana Corporation
(NYSE: DCN) announced today that it has signed a definitive agreement to sell
its Parish Structural Products (Thailand) Ltd. (PSPT) operation in Bangpakong,
Thailand, to AAPICO Hitech Public Co., Ltd., a Thai automotive supplier.
    (Logo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    Located just south of Bangkok, PSPT produces frame sets for the Isuzu
D-Max pickup.  The operation employs approximately 275 people and related 2002
sales totaled approximately $40 million.  Terms of the transaction were not
disclosed.
    Dana Automotive Systems Group President Bill Carroll said, "We have been
extremely proud of this structural products operation and our success in
providing unique, world-class frame sets to Isuzu.  Transitioning this
business to AAPICO at this juncture best suits the needs of both Isuzu and
Dana.  We believe we are providing the people associated with the PSPT
facility with an excellent opportunity to grow and prosper moving forward,
while at the same time enabling Dana to focus more intently on our significant
axle and driveshaft operations in the area."
    Dana's axle, driveshaft, and administrative facilities located
respectively in Rayong, Latkrabang, and Bangkok, Thailand, are not affected by
the proposed sale.
    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 more than 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 2002 sales
of $9.5 billion.

SOURCE Dana Corporation

Web Site: http://www.dana.com

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