Document VjngkL2d1X5e7XxMzM8oERMrZ

Dana Corporation - History Page 3 of 7 Dana's people to come up with two ideas a month to improve the way Dana did business. As a result of these initiatives and the endeavors of Dana people, Dana reported operating profi each year of the downturn (although a change in pension accounting procedure led to a reporte loss in 1992). Dana put its financial stability to good effect, continuing to acquire companies worldwide, develop new products, and invest in process and service technology, preparing for better times. In recognition of Dana people's achievements, and in keeping with Dana's philosophy, Dana adopted a new corporate slogan, which articulated the central principle of the Dana Style. It stated, simply: People Finding A Better Way. In 1992, the North American original equipment automotive market bottomed out and began to recover. A surge in the popularity of Sport Utility Vehicles, the growth of modular systems and a string of acquisitions (made in accordance with Dana 2000 strategies) enabled Dana to post a series of impressive results. In 1993 sales rose by almost $600 million. In 1994, sales rose by a astonishing $1.1 billion - an increase greater than Dana's total 1974 sales. Profits rose even faster. From $56 million in 1992, they rose to $129 million in 1993 and $228 million in 1994. As in previous booms, the problem was how to meet demand by improving new plants and productivity. Dana built green field facilities and invested heavily in equipment and recruitment. Dana made an equal investment in its people through training and education. But Dana was not only growing larger, it was also growing complex. As the largest independent supplier of vehicular components in North America and the third largest in the world, Dana's hac more than forty proprietary brand names supplying drive-train, engine, chassis, fluid power, industrial components, parts distribution and leasing. Dana had some brands that many customers didn't realize belonged to Dana. As a result, opportunities to leverage and enhance Dana's reputation were being missed. In 1995, therefore, Dana cut the number of proprietary brand names and standardized the use c the Dana name and Dana Diamond. Only the core brand names, responsible for 90 percent of Dana sales, remained untouched. New product development New products are like babies. At times it seems they're nothing but trouble, taking up all our tirm keeping us up at night and requiring unbelievable amounts of cash. Life would be a lot easier without them. So why do we bother? Because they're the future, and we love them. The Automate-2 and Spicer Solo were two new Dana products that made 1994 a particularly fruitful year. The Automate-2 was an award-winning electronic transmission that shifted automatically between the heavily used top two gears. Reducing strain on driver and drive-train alike, the Automate-2 was named the"Most Significant Product" of 1994 by the Truck Writers of North America. Dana also proved its sensitivity to consumer needs. Following a survey of 2,500 fleet managers and drivers, Dana developed the break-through Spicer Solo clutch that automatically readjusted prevent slippage, cutting replacement and labor costs. Dana 2000 The Dana Style Will Be Fully Implemented. Dana Will Be a World Leader in Quality, Service and Technology for Each of Our Products. http://www.dana.com/overview/history/history3.shtm 11/18/2002