Toledo, Ohio - Dana Corporation announced that it has combined most of its fluid systems operations into a new strategic business unit, the Fluid Systems Group. With sales of some $1.3 billion annually, the group is one of the world's largest producers of fluid systems.

The new business unit will produce an extensive line of rubber hose, fluid products, and fluid management systems. The products focus on the pumping, routing, and thermal management of fluid systems for a wide range of applications, from passenger cars to heavy trucks and off-highway vehicles.

The business unit includes the Fluid System Products Group that previously had been assigned within Dana's Engine Systems Group, the Boston Weatherhead Division of the former Industrial Products Group, and the Plumley Division's hose operations. The new unit consists of approximately 10,400 people at 45 manufacturing facilities and 10 technical centers in eight countries.

Joe Magliochetti, Dana president and CEO, said, "We believe this change will better leverage Dana's fluid systems capability, enhance capital efficiency, and enable us to combine the resources of these important businesses to more effectively serve our customers and ultimately improve shareholder value."

The group will be headed by Mike Laisure, a 26-year Dana veteran who most recently led the company's Modules & Systems Group and who oversaw the launch of Dana's Rolling Chassis(TM) module in Brazil. Laisure has also had responsibility for Dana's Spicer Trailer Products, Spicer Transmission, Spicer Clutch, Spicer Systems Assembly, and Spicer Heavy Truck Marketing divisions.

Laisure received a bachelor's degree in accounting from Ball State University and a master's degree in business administration from Miami University. He has completed the Harvard Advanced Management Program and also studied at Bowling Green State, American, and Indiana universities. He is a member of several professional societies and has served on the board of directors of the Heavy Duty Manufacturers Association, Spicer S.A. of Mexico, and Ohio's Edison Industrial System Centers.

(Jan. 12, 2000)

see also: Automotive Intelligence Special NAIAS 2000
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