Dana Corporation Realigns Spicer Axle Division into Two Market Focused Units
Oct 30, 1998
FT. WAYNE, Ind., Oct. 30 /PRNewswire/ -- Dana Corporation (NYSE: DCN) today announced that its former Spicer Axle Division has been realigned into two market-focused units that will provide greater focus, agility, and speed in meeting the needs of Dana's light vehicle customers. The Spicer Light Vehicle Axle Division will focus on the engineering and manufacture of components and systems for the global passenger car and sport utility vehicle axle market, which consists of more than 50 million vehicles. Bob Fesenmyer, a 25-year Dana veteran, will serve as vice president and general manager of the division. A second unit, the Spicer Light Truck Axle Division, will support products and systems for the global light truck and van marketplace, which consists of nearly 17 million vehicles. Gilberto Ceratti, a nine-year Dana veteran with significant international experience, will serve as general manager of the division. Both divisions will be headquartered in Ft. Wayne, Ind. "The establishment of two market-focused light axle divisions is a clear indication of Dana's commitment to its customers in these markets," said Bill Carroll, president of Dana's Automotive Systems Group. Added Wayne Myers, president of Dana Automotive Axle Products, "Bob and Gilberto bring tremendous experience and expertise to this new assignment. We're excited at the opportunities they will have to leverage Dana's resources to provide greater speed to market, increased technology collaboration, and improved focus in meeting the needs of our customers." The Spicer Light Vehicle Axle Division consists of manufacturing facilities in Cape Girardeau, Mo.; Columbia, Mo.; Dry Ridge, Ky.; and Ft. Wayne; as well as the World Center of Axle Technology in Ft. Wayne. The Spicer Light Truck Axle Division includes manufacturing facilities in Buena Vista, Va.; Greensboro, N.C.; Jonesboro, Ark.; and Syracuse, Ind., and will share the resources of the World Center of Axle Technology. The two divisions are part of Dana's Automotive Systems Group, which provides axles, driveshafts, structural products, automotive brake and clutch actuation products, and modules and systems for the global vehicular marketplace. The Group's 1998 sales will approximate $4.2 billion. One of the world's largest independent suppliers to vehicular, off- highway, and industrial manufacturers and their related aftermarkets, Dana Corporation produces components and systems used on more than 95 percent of the world's 670 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.