BUSINESS MEMO: DANA ONE OF WORLD'S BEST

Dana Corp. has been named to IndustryWeek magazine's third annual listing of the world's 100 best-managed companies.

Dana was selected after a four-step review process that included an analysis of its financial performance, review of a questionnaire, research into its practices in areas such as philanthropy and safety, and voting by a panel of more than 80 business leaders, analysts and academicians from around the world.

The local Dana facility is Spicer Axle Division.

"IndustryWeek's 100 best-managed companies demonstrate superior, consistent management performance in good times and bad," said John Brandt, editor-in-chief of IndustryWeek. "These awards also recognize companies that are positioning themselves for the future by investing heavily in such areas as change, market development, people and society."

Dana chairman and chief executive officer Southwood J. Morcott said, "We are delighted that IndustryWeek has recognized the commitment and hard work of our people worldwide. Dana has long relied on a unique style of management that emphasizes trust in people, individual responsibility, decentralization in decision making, education and continuous improvement. This honor validates our style of management."

Dana produces components used on more than 95 percent of the world's 650 million motor vehicles.