Dana Corporation Providing Propshafts, Full-Perimeter Frame for Redesigned 2007 Toyota Tundra Pickup Truck

TOLEDO, Ohio, Feb. 27, 2007 /PRNewswire-FirstCall/ -- Dana Corporation announced today that it has begun supplying steel and bi-metallic Spicer® propshafts, as well as full-perimeter frames, for the redesigned 2007 Toyota Tundra pickup truck.

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Dana is supplying 100 percent of the propshafts for both the two-wheel- and four-wheel-drive versions of the Tundra. While the one-piece design is made of steel, the two-piece propshaft configuration uses a unique bi-metallic design, resulting in improved noise, vibration, and harshness. This is the first time that Dana has supplied bi-metallic propshafts to Toyota.

The bi-metallic propshaft earned Toyota's Award for Technology and Development, which Dana accepted the at the automaker's Global Suppliers Convention in Nagoya, Japan, on Friday. Toyota reviewed more than 200 supplier applications before it selected winners of the 2007 awards.

"Dana is an industry leader in developing new designs and material uses to help our customers achieve improved performance," said Michael J. Burns, Dana chairman and CEO. "It's an honor to have our engineering expertise recognized by a respected customer such as Toyota."

"The redesigned 2007 Tundra presented Dana's first opportunity to supply Toyota with bi-metallic propshafts," said Bob Fesenmyer, president, business development. "This product is just one example of Dana's dedication to providing innovative, valuable technologies to help our customers deliver a quality vehicle."

The propshafts are manufactured at Dana's facility in Gordonsville, Tenn.

The Dana frames come from the company's Owensboro, Ky., facility, which is one of the industry's leading assemblers of advanced full-perimeter frames. In recognition of its lean manufacturing approach, Dana's Owensboro facility has previously been honored as one of IndustryWeek magazine's Ten Best North American Manufacturing Facilities.

The Owensboro facility has flexibility to manufacture two significantly different frames on a single line with zero changeover time -- which means that the changeover takes place while the frame subassembly moves from one station to the next. Due to the lean manufacturing approach, the Owensboro facility maintains less than one day's inventory, and the lead time from request to delivery is fewer than six hours.

Mr. Fesenmyer added, "We value our close relationship with Toyota that dates back to the 1980s. Through our joint commitment to collaboration, we are able to deliver innovative new technologies that contribute to enhanced efficiency, logistics, and throughput, while also maintaining a high level of quality."

About Dana Corporation

Dana is a leading supplier of drivetrain, chassis, structural, and engine technologies. Dana people design and manufacture products for every major vehicle and engine producer in the world. Based in Toledo, Ohio, with operations throughout 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 annually. The company's continuing operations reported sales of $8.6 billion in 2005. Dana's Internet address is http://www.dana.com/.

Dana and certain of its U.S. subsidiaries are operating under Chapter 11 of the U.S. Bankruptcy Code as debtors in possession. Information about the bankruptcy proceedings can be found at http://www.dana.com/reorganization. While Dana continues its reorganization under Chapter 11, investments in its securities are highly speculative. Although shares of Dana common stock continue to trade on the OTC Bulletin Board (OTCBB) under the symbol "DCNAQ," the trading prices of the shares may have little or no relationship to the actual recovery, if any, by the holders under any eventual court-approved reorganization plan. The opportunity for any recovery by holders of Dana common stock under such reorganization plan is uncertain and shares of Dana common stock may be cancelled without any compensation pursuant to such plan.

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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/
http://www.dana.com/reorganization

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