Dana narrows earnings loss

TOLEDO, Ohio (Feb. 13)—Dana Corp.´s sales increased only fractionally to $10.3 billion in 2002, but the manufacturer narrowed its loss to $182 million vs. a loss of $298 million in 2001. For the fourth quarter, Dana reported a net loss of $9 million, including restructuring charges of $44 million, which compares to a loss of $298 million during the same three-month period of 2001. Sales during the most recent quarter increased 1.4 percent to $2.4 billion. Dana closed 28 plants last year, divested non-core operations and realigned its remaining businesses while reducing net debt by $700 million.