Emerson, Dana Corporation Pursue Joint Development of Advanced Vehicle Technology

Oct 21, 2002

      New Partnership to Initially Focus on Electric Steering Actuators

    TOLEDO, Ohio, Oct. 21 /PRNewswire-FirstCall/ -- Dana Corporation
(NYSE: DCN) and Emerson (NYSE: EMR) announced today that they have reached an
agreement in principle to jointly develop advanced actuator systems for the
automotive market.  Details of the relationship are pending a final agreement
expected soon.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    Actuators are small power motors that control a variety of vehicle
functions, from ride and stability to power train and steering systems.
Advanced electric actuator systems offer increased efficiency, cost-savings
and environmental benefits compared to mechanical and hydraulic systems.
    The Dana-Emerson partnership will initially focus on the development of a
series of actuator products and related components for the global electric
steering market.  Potential products will include motors and electronic
control units, and electric power packs for electro-hydraulic power steering
(EHPS) and electric-power steering (EPS) applications.
    "We're tremendously enthused by the potential to provide our customers
with technologies that will be critical to the next generation of vehicles,"
said Dana President of Technology Development & Diversified Products Chuck
Heine.  "This partnership reflects the strong commitment Dana and Emerson have
to developing customer-driven technologies that will support improved fuel
economy, environmental advancements, and enhance overall performance."
    Jim Lindemann, Executive Vice President of Emerson Motor Technologies,
added that, "Emerson and Dana will take advantage of the complementary
expertise we offer.  Dana's significant global automotive capabilities and
presence fit well with Emerson's leading position in advanced motor technology
and manufacturing.  We believe this combination will deliver valuable
solutions to our customers."
    Dana and Emerson have identified significant market opportunities with
selected original equipment and Tier I customers in both EHPS and EPS totaling
nearly $500 million, providing a strong starting position to broaden their
partnership.  With completion of the partnership details and regulatory
consent, headquarters would be established in Feltham, U.K., with additional
manufacturing operations in Slovakia.
    St. Louis-based Emerson is a global leader in bringing technology and
engineering together to provide innovative solutions to customers in
electronics and telecommunications; process control; industrial automation;
heating, ventilating and air conditioning; and appliances and tools.  Sales in
fiscal 2001 were $15.5 billion.
    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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