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Dana Corporation - History Page 4 of 7 Dana Will Obtain 50 Percent of Our Total Sales from Distribution Markets. Dana Will Obtain 50 Percent of Our Total Sales Outside the United States. Dana's Financial Performance Will Consistently Exceed the Standard and Poor's 500. Two ideas a month The 1990s showed Dana more committed than ever to the concept of continuous improvement through people involvement. Asking for two ideas a months from every Dana person, Dana sou< to implement a minimum of 80 percent of all suggestions. The accumulated improvements gave Dana a tremendous competitive boost. Idea sharing is not new to Dana. This verse appeared in Spicer's Driveshaft magazine, in 1923: You have a dollar. I have a dollar. We swap. Now you have my dollar. And I have yours. We are no better off. *** You have an idea. I have an idea. We swap. Now you have two ideas. And I have two ideas. *** That's the difference Global Dana With 40,000 people working in 445 facilities around the world Dana had, by 1995, established itself as a true competitor in the global automotive industry. Which is the way it had to be, becai for a company the size, strength and ambition of Dana, being global was not a luxury - it was a necessity. The world market had changed a lot since Clarence Spicer first set up his stall in Plainfield, New Jersey. In place of a multitude of small manufacturing operations in America and Europe, a sele number of independent car giants operated around the globe. Vehicles were so sophisticated, manufacturers could no longer buy standard components. They forged closer and closer relationships with their suppliers, pooling their engineering expertise to develop breakthrough products. Supply had become a team effort, and if Dana hadn't been global, Dana wouldn't hav< been on the team. As an added benefit, relationships developed in one market paid back in another market, allowii Dana to grow with its customers. One example was Japan, where Dana first established a presence in 1970. As Japanese car manufacturers prospered worldwide, so Dana's contacts wii them grew more important. For example, in 1994, Dana was contracted to produce frames and shafts for Toyota light trucks in Argentina. An American company producing components for a Japanese company, in South America. Tha was the nature of the global market. At the same time as the automotive business was turning global, there was a worldwide trend tc free-trading blocks. In Europe, Asia-Pacific and South America, the growth of these regional markets boosted trade, and consequently improved local productivity, pay-packets and purchas power. Companies that aimed to be world class needed to supply not just nations, but whole continents. As automotive companies expanded geographically, they needed to simplify their structure and http://www.dana.com/overview/history/history3.shtm 11/18/2002