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Dana Corporation Affiliate To Acquire Brazilian Sealing Products Manufacturer

TOLEDO, Ohio, Nov. 26 /PRNewswire/ -- Dana Corporation's (NYSE: DCN) Brazilian affiliate, Dana Industrias Ltda., has agreed to acquire the assets of Industrias Orlando Stevaux Ltda., a Brazilian manufacturer of gaskets and oil seals. Terms of the transaction were not released.

According to Chuck McNamara, president of Dana's Sealing Products Group, the acquisition provides Dana with an opportunity to enter the Mercosur sealing products marketplace, which includes Argentina, Brazil, Paraguay and Uruguay. McNamara said the move is consistent with Dana's global growth strategy, which has seen it grow its core businesses -- axles, driveshafts, structural components, sealing products and filters -- abroad.

"Sealing Products are a core Dana business," McNamara said, "and this acquisition will provide us with even greater capabilities for serving the growing South American market."

Added Dana South America President Cedomir Eterovic, "Stevaux has an excellent reputation in Brazil. Combining this company with Dana's other sealing product operations will provide a great deal of synergy and significant benefits for our customers."

With a facility and 400 people located in Sao Paulo, Brazil, Stevaux derives approximately 60 percent of its sales from the aftermarket, with 25 percent from original equipment manufacturers and 15 percent from exports.

Dana Corporation is a global leader in the engineering, manufacture and distribution of products and systems for the vehicular, industrial and mobile off-highway markets. It operates facilities in 29 countries with more than 45,000 people. The company's 1995 sales were $7.6 billion. Dana also owns Dana Credit Corporation, winner of the 1996 Malcolm Baldrige National Quality Award. The Internet address for Dana's home page is: http://www.dana.com.

SOURCE Dana Corporation
 -0- 11/26/96


/CONTACT: Gary Corrigan, Director-Corporate Communications, of Dana Corporation, 419-535-4813/

/Dana's press releases available through Company News On-Call by fax, 800-758-5804, ext. 226839, or at http://www.prnewswire.com/

(DCN)

CO: Dana Corporation; Dana Industrias Ltda.; Orlando Stevaux Ltda. ST: Ohio IN: AUT SU: TNM

TC-BG -- CLTU018 -- 4247 11/26/96 09:41 EST http://www.prnewswire.com
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Date:Nov 26, 1996
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