More Restructuring By Dana
Dana Corp. said it will consolidate its North American thermal products group operations by mid-2006, closing three facilities that employ 200 workers. The restructuring is expected to reduce operating and overhead costs and strengthen competitiveness, with charges related to the closures immaterial, Dana said. It expects to place some of the displaced workers at other facilities.
"This consolidation is difficult, but necessary to strengthening the market position of our thermal products group, which we consider a core Dana business," Chairman and Chief Executive Michael Burns said in a statement.
The plants produce engine oil coolers, transmission and power steering fluid coolers and small radiators for passenger cars, heavy duty trucks and all-terrain vehicles.
In October, Dana said it would shed businesses, and cut up to 5% of its salaried workers, to focus on light and heavy vehicle drivetrain products, structures, sealing and thermal products. Under this latest plan, Dana will close facilities in