Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - DANA INC | l41537e8vk.htm |
| EX-99.1 - EX-99.1 - DANA INC | l41537exv99w1.htm |
Exhibit 99.2
DRAFT
Dana Holding Corporation Reaches Settlement with Toyota
on Warranty Claims Related to Divested Structural Products Business
on Warranty Claims Related to Divested Structural Products Business
MAUMEE, Ohio — January XX, 2011 — Dana Holding Corporation (NYSE: DAN) announced today that it
has reached a settlement with Toyota Motor Engineering & Manufacturing North America, Inc., for
warranty claims related to frames produced by the company’s former Structural Products business.
Under terms of the agreement, Dana will make a one-time payment of $25 million to Toyota in
connection with corrosion on frames produced for certain Tacoma pickup trucks that were subject to
a customer support program initiated by Toyota in 2008. The payment will result in a $25 million
charge to Dana’s fourth-quarter 2010 earnings.
Dana substantially divested its Structural Products business, including the plants that
manufactured the Tacoma frames, in March 2010.
About Dana Holding Corporation
Dana is a world leader in the supply of driveline products (axles and driveshafts), power
technologies (sealing and thermal-management products), and genuine service parts for light and
heavy manufacturers. The company’s customer base includes virtually every major vehicle
manufacturer in the global automotive, commercial vehicle, and off-highway markets. Based in
Maumee, Ohio, the company employs approximately 22,500 people in 26 countries and reported 2009
sales of $5.2 billion. For more information, please visit: www.dana.com.
Investor Contact |
Media Contact | |
Lillian Etzkorn: 419.887.5160 |
Chuck Hartlage: 419.887.5123 |
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