Dana Corporation Completes Sale of Several Non-Core Businesses

Nov 18, 2002

    TOLEDO, Ohio, Nov. 18 /PRNewswire-FirstCall/ -- Dana Corporation
(NYSE: DCN) announced today that it has completed the sale of several non-core
businesses to The Riverside Company, a leveraged buyout firm.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    Proceeds from the sale were approximately $33 million, and the transaction
was not material to the company's results of operations.  Terms of the
transaction were not disclosed.

    The businesses involved in the transaction are:
    * Tekonsha Engineering Company, located in Tekonsha, Mich., a manufacturer
      of aftermarket electric brake controls and related products for the
      recreation, agricultural, and trailer markets.  This transaction
      included Dana's SurePull Products facility in Sheridan, Ark., which
      produces hitches and towing accessories;
    * Theodore Bargman Company, located in Albion, Ind., a manufacturer of
      exterior illumination products, electrical accessories, and locks and
      latches; and
    * American Electronic Components, Inc., located in Elkhart, Ind., a
      manufacturer of sensors, switches and relays.

    The combined operations employ nearly 700 people and had total sales of
$81 million in 2001.
    Dana Corporation is one of the world's largest suppliers of components,
modules, and complete systems to global vehicle manufacturers and their
related aftermarkets.  Founded in 1904 and based in Toledo, Ohio, the company
operates some 300 major facilities in 34 countries and employs approximately
70,000 people. The company reported sales of $10.3 billion in 2001.  Dana's
Internet address is http://www.dana.com .

SOURCE Dana Corporation

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

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