Dana Incorporated history

1908 The Thomas Flyer wins the “Round the World Race.” The Flyer is manufactured with parts whose companies would eventually join the <strong>Dana</strong> family: Salisbury, Brown-Lipe, Parish and the General Drop Forge company.

However after a decade of rapid growth, his company faced difficult financial times during the economic downturn of the early 1910s.

In spite of these innovations and the growth of the automotive industry, the Spicer Company faced difficult financial times by 1914.

Public Company Incorporated: October 12, 1916 as Spicer ManufacturingCompanyEmployees: 38,200Sales: $3.695 billionMarket Value: $1.829 billionStock Index: New York London

1917 Clarence Spicer joins a group of engineers and industry leaders summoned to Washington D.C. to design the Class B or “Liberty” Truck.

He moved Spicer's headquarters to Toledo, Ohio, in 1928, and two years later the rest of the operations moved as well.

The company returns to profitability in 1933.

By 1944, more than ten thousand people worked for Spicer.

In 1945, 1,820 employees at the company's plant in Pottstown, Pennsylvania, walked off the job, dissatisfied with recent lay offs and subsequent rehirings of personnel with less seniority.

By 1952, Dana was considering closing the Pottstown plant because it was no longer competitive.

Today, we’re proud to say we’re one of only 52 companies that has made the Fortune 500 list every year since it was first published in 1955 and remain one of the longest-standing companies listed on the New York Stock Exchange.

Company introduces the first cruise control on 1958 Chrysler models.

In the late 1960’s, Rene C. McPherson was appointed president of the company.

During this decade, McPherson moved Dana away from its reliance on the original-equipment market and toward the light trucks market, which ultimately represented 35% of its 1970’s sales.

Dana first sold one billion dollars of its products in 1974, and only four years later passed the two billion dollar mark.

At the time, the company's sales were at $900,000; under Dana's direction, sales increased to $18 million by 1979.

By 1980, Dana had developed three distinct areas of business: original equipment auto and truck parts, replacement parts, and industrial machine components.

In 1983, Dana’s original equipment parts business had an unexpectedly profitable year, as earnings rose 119 percent to $ 112 million.

Dana began manufacturing gears in 1984 that were identical to those designed for a line of Clark Equipment Company truck transmissions.

Dana was subsequently sued for $1.7 million by St Regis Corporation in 1985 and other insurance companies involved with Cherokee were reviewing the matter.

By 1987, Dana’s annual sales exceeded four billion dollars.

The German companies Reinz-Dichtungs GmbH and Hugo Reinz GmbH in 1993.

Since 2000, Dana Corporation has won numerous quality awards for manufacturing, both in the United States and in other parts of the world where its operations are located.

In one notable asbestos lawsuit, a former pipefitter sought recovery for his asbestos-related injuries in 2002.

Assisting mesothelioma patients and their loved ones since 2006.

Geisel, J. (2007, July 15). Retiree health VEBAs may be start of trend.

Dana Corp. asbestos claimants appeal Chapter 11 plan confirmation. (2008, January 6). Retrieved from http://www.toledoblade.com/local/2008/01/06/Dana-Corp-asbestos-claimants-appeal-Chapter-11-plan-confirmation.html

By June 2010, Dana had about 31,000 active asbestos claims and had settled about 11,000 inactive claims.

In 2012, Dana privately settled a $21 million dispute with two of its insurance providers over asbestos litigation costs.

By the end of 2015, it was facing approximately 25,000 active asbestos lawsuits.

30, 2016, Dana Companies LLC was sold to Enstar Holdings, an insurance group that also later acquired BorgWarner Inc.’s asbestos liabilities.

Now known as Dana Incorporated, the company has been on the Fortune 500 list for 65 years, generating sales of more than $8 billion in 2018 alone.

Dana recognized by General Motors as a 2019 Supplier of the Year Winner for Driveline Technologies and FCA Supplier of the Year for Value Optimization.

"Dana Corporation ." International Directory of Company Histories. . Encyclopedia.com. (April 16, 2021). https://www.encyclopedia.com/books/politics-and-business-magazines/dana-corporation-0