MAUMEE, Ohio, Aug. 26 -- Dana Holding Corporation (NYSE: DAN) announced today that it has been awarded a contract with Chinese domestic automaker Beiqi Foton Motors Co., Ltd., to supply Spicer® rear axle assemblies for its 2012 model year sport-utility vehicle and pick-up truck platform.
"This win demonstrates Dana's growing success in generating new business in China with domestic vehicle makers such as Foton," said Marty Bryant, president of the Dana Light Vehicle Products Group. "With nearly 20 years of experience in the country, our localized sales, engineering, advanced manufacturing, and supplier support are helping us meet our customers' needs, and, at the same time, helping Dana to further expand our position in the rapidly-growing Chinese light vehicle market."
Dana worked closely with Foton to provide localized manufacturing and assembly options that could be brought to market very quickly, a key requirement for the automaker.
"Our optimized axle design is lightweight, provides improved fuel economy and is cost-effective," said Terry Hammer, Dana senior engineering manager. "These features, combined with our ability to meet aggressive deadlines without compromising quality, helped us to win the business with Foton. We look forward to a continued successful relationship."
Dana will manufacture and assemble the axles at its Fujian Spicer affiliate in Fuzhou, China.
Dana's manufacturing experience in China stretches back to 1991, and today Dana maintains an interest in four China-based operations with seven manufacturing facilities serving the light vehicle, commercial vehicle, and off-highway markets.
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 22,000 people in 26 countries and reported 2009 sales of $5.2 billion.
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