Dana Corporation Completes Sale of Transmission Business

Sep 3, 1997

    TOLEDO, Ohio, Sept. 3 /PRNewswire/ -- Dana Corporation (NYSE: DCN) today
announced the closing of the sale of its transmission business to
Transmisiones TSP, S.A. de C.V., a subsidiary of Dana's Mexican affiliate,
Spicer, S.A. de CV.
    The sale of Dana's Spicer Transmission business, first announced July 16,
is another in a series of strategic moves that Dana has taken to focus on its
global core businesses.  Dana's 1996 transmission sales totaled $104 million.
    Dana holds a 49-percent share of Spicer, S.A., an affiliate since 1964
that operates vehicular component manufacturing and distribution facilities.
This move will make Spicer, S.A. a leading independent transmission
manufacturer, with a full range of transmissions, from automotive to heavy
    Dana is a global leader in the engineering, manufacture, and distribution
of products and systems for the vehicular, industrial, and off-highway
markets.  Its core businesses are axles, driveshafts, structural components
(frames), sealing products, filtration products, engine products, industrial
products, and leasing services.  Dana's leasing operation was a recipient of
the 1996 Malcolm Baldrige National Quality Award.  Founded in 1904 and based
in Toledo, Ohio, Dana operates facilities in 30 countries and employs more
than 48,000 people.  Its 1996 sales were $7.7 billion.  The Internet address
for Dana's home page is www.dana.com.

SOURCE  Dana Corporation

CONTACT: Gary Corrigan of Dana Corporation, 419-535-4813