Dana gains 3 driveshaft contracts
Dana Corp. will supply driveshafts to three Japanese automakers for use in their light trucks. This month, Dana will start delivering driveshafts for the British-built Opel Frontera sport-utility. In August, Dana will deliver the components for the Nissan Frontier pickup. And next January, Dana will launch production to supply driveshafts for the rear-wheel-drive and four-wheel-drive versions of Toyota's T-150 pickup. Dana is based in Toledo, Ohio. The contracts are worth an estimated $25.5 million.
AXLES - Dana Corp. also has signed a long-term contract to supply Mack Trucks Inc. with drive and steer axles for the Mack CH chassis. The agreement will cover Mack's Class 8 trucks.
EARNINGS - Exide Corp. lost $5 million for the period ending March 31, compared with a loss of $7.8 mil-lion a year earlier. Sales totaled $539 million, up from $512 million. Exide said it managed to boost battery sales despite a warm winter. Exide is based in Bloomfield Hills, Mich.
Hayes Lemmerz International Inc. reported quarterly net income of $14.7 million, up from $3.8 million a year earlier. Sales totaled $414 million, up 65 percent. The company attributed the increases to the acquisitions of Lemmerz Holding GmbH in 1997 and Motor Wheel Corp. in 1996. Hayes Lemmerz is based in Romulus, Mich.
LucasVarity PLC reported quarterly sales from continuing operations of $1.8 billion, up 7.6 percent over the prior year. Operating profit from continuing operations was $92 million, up 47 percent. LucasVarity is based in London.
AIRBAGS - TRW Inc. has agreed to use Simula Inc.'s inflatable tubes for side-impact protection. The partners are developing the side-impact airbags for two automakers, and have agreed to work on future programs for at least two additional customers. TRW is based in Cleveland; Simula is headquartered in Phoenix.
R&D - Toyota Technical Center U.S.A. Inc. has expanded its research center in Ann Arbor, Mich. The company added 75,000 square feet to the facility, which now totals 448,000 square feet.
LABOR - MascoTech Inc. has signed a new labor contract with UAW Local 155 to cover workers at its plant in Fraser, Mich. Details of the agreement were not disclosed. MascoTech is headquartered in Taylor, Mich.