TOLEDO, OH -- Dana Corp. has announced a series of plant closures to take place over the next two years. The company said these actions will consolidate production and are designed to balance capacity and take advantage of lower-cost manufacturing locations. Dana announced preliminary plans to close eight facilities last month.

The first four facilities to close are Dana's Syracuse, IN, and Cape Girardeau, MO, Traction Products facilities, and the company's Guelph and Thorold, Ontario, Canada, Structural Solutions plants.

Production from the Syracuse and Cape Girardeau facilities will be moved to Dana operations in Mexico. Closure of the Guelph plant coincides with the end of a customer program that comprised all production volume at the facility. The majority of the production at the Thorold operation will be moved to Dana's Elizabethtown, KY, structures plant.

Dana Chairman and CEO Mike Burns said, "The decision to close any facility is extremely difficult and regrettable. But to become competitive and emerge from Chapter 11 as a viable company, it is absolutely critical that we further consolidate work across our facilities to reduce overcapacity and high operating costs."

Burns said that the four additional facility closures are expected to be finalized in 2007.

Dana expects to incur charges of approximately $26 million before tax during the fourth quarter of 2006 and additional aggregate charges of approximately $19 million in 2007-2009 for total charges of $45 million before tax, in connection with the first four plant closures.

For more information about Dana, go to: http://www.dana.com.