The European operations of Dana Corporation are open for business as usual today, even though their parent company in the United States commenced a chapter 11 reorganisation case last Friday, Dana stressed in a statement.

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“Dana Europe is not part of the U.S. chapter 11 case, nor are any of Dana Corporation’s operations in Latin America, Mexico, Canada, and Asia Pacific. The US chapter 11 process is not intended to have any effect on these international operations,” the company said.


“We have the ability to stand on our own, independent of what happens in the US,” said Dana Europe president Ralf Goettel. “We will continue to act in a coordinated and global way to meet the needs of our customers worldwide.


“Our suppliers can expect to continue to be paid on time for all the goods that they have shipped or will ship to us. Nothing has changed.”


Prior to the filing of the US chapter 11 case, arrangements were made to provide Dana’s international subsidiaries with uninterrupted access to financing for their day to day operations, as well as access to working capital to enable them to continue to meet their obligations.

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“Almost one third of our business comes from specialty construction, agricultural and other specialty vehicles. Much of the rest comes from working closely with European manufacturers. This is a completely different market quite separate from the problems facing the US automotive supplier industry, Dana’s operations in Europe continue to be profitable and financially strong,” added Goettel.