Dana Sells Forging Operation to Sypris Solutions

    TOLEDO, Ohio, June 1 /PRNewswire/ -- Dana Corporation (NYSE: DCN)
announced today that it has completed the sale of its Marion, Ohio, forging
facility to Sypris Solutions Inc. (Nasdaq: SYPR).  As a result of the sale,
Dana will record an after-tax loss of approximately $7 million (5 cents per
share) in the second quarter of 2001.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990903/DANA )
    The Marion facility was acquired in the company's 1998 acquisition of
Eaton Corporation's heavy axle and brake business.  The 258,000-square-foot
facility produces fully machined axle shafts and a variety of forgings, such
as ring gears and helical gears, for heavy-duty truck applications.  The
Marion facility employs approximately 220 people.
    Dana Commercial Vehicle Systems President Rick Clayton said, "Dana has
realized tremendous synergies since we purchased the Eaton heavy axle and
brake businesses. At this time, the forging operation no longer fits within
our manufacturing strategies.  The decision to sell this business is
consistent with Dana's long-term strategy of growth through innovation in the
global vehicular market, and is not a reflection on our people there or on the
business opportunities for that operation."
    Dana's Commercial Vehicle Systems Unit designs, manufactures, and markets
steer axles, drive axles, trailer axles, auxiliary axles, driveshafts,
steering shafts, brakes, and suspensions.  Major components, systems, and
modules are marketed under the Spicer(R) brand name.  Dana's strategic
alliance with Eaton Corp.'s Truck Components provides innovative drivetrain
solutions under the Roadranger(TM) Drivetrain System.
    Dana Corporation is one of the world's largest suppliers to vehicle
manufacturers and their related aftermarkets.  Founded in 1904 and based in
Toledo, Ohio the company operates 300 major facilities in 35 countries and
employs more than 75,000 people.  The company reported sales of $12.3 billion
in 2000.  Dana Corporation's Internet address is http://www.dana.com .

SOURCE Dana Corporation

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

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