Dana Corporation, GETRAG GmbH & Cie KG to Jointly Develop Electronic Torque- Transfer Devices

TOLEDO, Ohio, Jan. 11 /PRNewswire-FirstCall/ -- Dana Corporation (NYSE: DCN) and GETRAG GmbH & Cie KG announced today that they have expanded their strategic alliance to jointly develop electronically controlled limited- slip differentials and electronic torque couplings.

(Logo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA)

Under terms of the agreement, engineers from Dana and GETRAG will be working in both the United States and Europe to develop advanced torque- transfer products. The electronically activated devices will be used in Dana axles and GETRAG axles, transaxles, and power-transfer units, which in turn will be applied in both light-truck and passenger-car platforms.

"As demand for all-wheel-drive vehicles grows, so does the need for electronic torque-transfer devices - a key enabling all-wheel-drive technology. This joint cooperation will help Dana and GETRAG expand their leadership in this growing market segment. In addition, it will enhance two- wheel-drive handling, mobility, and safety," said Michael J. Burns, Dana chairman and CEO. "By bringing together our collective electronic and traction expertise, this collaboration enables Dana and GETRAG to offer a broader range of electronic torque-management devices."

"This strategic alliance between two leaders in the auto industry will bring enhanced benefits to our customers. This agreement allows Dana and GETRAG to pool resources, skills, and technologies - strengthening the innovative product offering of both companies," said Tobias Hagenmeyer, president and CEO of the GETRAG Corporate Group.

Dana announced in 2000 that it had acquired a 30-percent equity stake in GETRAG GmbH & Cie KG, the parent company of the GETRAG group of companies, and a 49-percent share of GETRAG's North American operations. In 2004 the two companies bought a 60-percent share of Volvo Car Corporation's operations in Koping, Sweden, to form GETRAG All Wheel Drive AB.

GETRAG is a major supplier to the European automotive industry with an excellent reputation for quality products and technologies. Privately owned, GETRAG was founded in 1935 by Hermann Hagenmeyer and is headquartered in Untergruppenbach, Germany. GETRAG is now located at 16 sites around the world (Germany, Italy, France, U.K., United States, India, and Japan). The company produces manual transmissions for passenger cars, SUVs, vans, motorcycles and light trucks and automated manual transmissions (ASG®) for the automotive industry. The company's revenues totaled 2.4 billion Euros in 2004 and it employs approximately 9,000 employees.

Dana people design and manufacture products for every major vehicle producer in the world. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles every year. A leading supplier of drivetrain, chassis, structural, and engine technologies, Dana employs 46,000 people in 28 countries. The company is based in Toledo, Ohio, and reported sales of $9 billion in 2004. Dana's Internet address is http://www.dana.com/.

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SOURCE: Dana Corporation

CONTACT: Jeff Cole of Dana Corporation, +1-419-887-3535, or
jeff.cole@dana.com

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

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