TOLEDO, Ohio, Feb. 27 /PRNewswire-FirstCall/ -- Dana Corporation
(NYSE: DCN) announced today that it continues to be in discussions with banks
and financial institutions regarding financing alternatives and expects to
reach a resolution within the next two weeks.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA)
The company also announced that on Friday, Feb. 24, 2006, it obtained a
waiver of the minimum required corporate credit rating under its accounts
receivable securitization program.
About Dana Corporation
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 annually. A leading supplier of
drivetrain, chassis, structural, and engine technologies, Dana employs 46,000
people in 28 countries. Based in Toledo, Ohio, the company reported sales of
$9 billion in 2004. Dana's Internet address is http://www.dana.com.
Forward-Looking Statements
Statements in this release which are not entirely historical constitute
"forward-looking" statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements represent Dana's expectations
based on our current information and assumptions. However, forward-looking
statements are inherently subject to risks and uncertainties. There can be no
assurances regarding the outcome of Dana's discussions with lenders regarding
financing alternatives. Dana does not undertake to update any forward-looking
statements in this release.
SOURCE Dana Corporation
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Related links:
http://www.dana.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990903/DANA
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/226839.html
CONTACT:
Michelle Hards of Dana Corporation,
+1-419-535-4636, or michelle.hards@dana.com
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