Local impact of Dana cuts unclear

LIMA - It is too soon to tell whether reductions announced by Dana Holding Corp. will affect Lima's Dana Spicer Driveshaft Division plant.

The company has begun cutting an additional 5,800 people from its 113 plants around the world. Officials could not say Tuesday which plants would be affected.

"There may be a facility that doesn't have any [reductions]. There may be a lot that has just a handful or less," company spokesman Chuck Hartlage said.

Reductions will be made at various times throughout the rest of the year and will include both hourly and salaried employees, Hartlage said.

He could not speak specifically about the Bible Road plant, which employs about 450 people. Dana laid off about 60 workers at the Lima plant late last year.

The company has lost $691 million in the 12 months since it emerged from bankruptcy in January 2008. It lost $2.64 a share in the fourth quarter of 2008, compared with $1.52 a share, for the same period a year ago. The company expects 2009 to continue to be a tough year, Hartlage said.

"The projections don't point to a marketplace where we are going to be ramping up production quickly for any particular market or customer," he said.

The company said last November it would close up to 10 plants in 2009 and 2010. Three have already closed. No details of other closures were available Tuesday.