Dana Selected as One of World's 100 Best-Managed Companies
Aug 13, 1998
TOLEDO, Ohio, Aug. 13 /PRNewswire/ -- Dana Corporation (NYSE: DCN) has been named to IndustryWeek magazine's third annual listing of the world's 100 best-managed companies. Dana was selected after a four-step review process, which included an analysis of its financial performance; review of a questionnaire; research into its practices in areas such as philanthropy and safety; and voting by a panel of more than 80 business leaders, analysts, and academicians from around the world. "IndustryWeek's 100 Best-Managed Companies demonstrate superior, consistent management performance, in good times and bad," said John Brandt, editor-in-chief of IndustryWeek. "These awards also recognize companies that are positioning themselves for the future by investing heavily in such areas as change, market development, people, and society." Dana Chairman and Chief Executive Officer Southwood J. Morcott said, "We are delighted that IndustryWeek has recognized the commitment and hard work of our people worldwide. Dana has long relied on a unique style of management that emphasizes trust in people, individual responsibility, decentralization in decision making, education, and continuous improvement. This honor validates our style of management." The Dana Style of Management was also recently highlighted in The Global Manufacturing Vanguard, a book by USA Today Detroit Bureau Chief Micheline Maynard that highlighted the manufacturing and management practices of such companies as Toyota, General Electric, Sony, and Dana. One of the world's largest independent suppliers to vehicular, off- highway, and industrial manufacturers and their related aftermarkets, Dana Corporation produces components used on more than 95 percent of the world's 650 million motor vehicles. Founded in 1904 and based in Toledo, Ohio, the company operates 270 major facilities in 33 countries and employs more than 79,000 people. The company had pro forma sales of $11.9 billion in 1997. Dana's Internet address is http://www.dana.com.
SOURCE Dana Corporation
Web Site: http://www.dana.com
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