Business Description
Dana Corporation is one of the world's largest independent suppliers of modules,
systems and components for light, commercial and off-highway vehicle original
equipment (OE)'manufacturers globally and for related OE service customers. Our
products are used in passenger cars and vans, sport-utility vehicles (SUVs), light,
medium and heavy trucks and a wide range of off-highway vehicles. From our introduction
of the automotive universal joint in 1904 to the development of high-performance
products for the 21st'century, we have been a leader in technological innovation.
Many of our products have unique and patented features that provide added value
to our customers. We are also highly focused on product quality, delivery and
service, as evidenced by our numerous supplier quality awards. As a result, we
have developed successful long-standing business relationships with thousands
of customers worldwide.
For nearly two decades, we were a leading provider of lease financing services
in selected markets through our wholly owned subsidiary, Dana Credit Corporation
(DCC). However, in October 2001, we determined that the sale of DCC's businesses
would enable us to more sharply focus on our core businesses.
Focus and Expand Core Businesses. We believe that our core businesses are the
key to the long-term profitable growth of our company. These core businesses
focus on the development, design and manufacture of our core products: axles,
driveshafts, structures, fluid systems and bearing and sealing products. These
businesses have leading market positions and brand equity and provide our customers
with value-added solutions and products.
Our OE customers continue to target improved asset utilization, speed to market,
lower cost, lower investment risk, and greater flexibility and to look for outsourcing
alternatives. We expect that our global presence and technological and engineering
capabilities, as well as our experience, scale of operations and long-standing
relationships with major OE customers, will enable us to continue to take advantage
of this opportunity. The new business is not only with our traditional U.S.-based
OE customers, but also with OEs such as BMW, Isuzu, Nissan and Toyota.
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