Dana Hopes To Emerge From Chapter 11 In 18 Months

Law360 (March 13, 2006, 12:00 AM EST) -- Just a little over a week after slipping into bankruptcy, Dana Corp. announced Friday that it hopes to shake off the dust and stand back up on its feet within 18 months.

During a meeting with creditors and their attorneys in a midtown Manhattan hotel, Chief Executive Michael Burns said the auto parts supplier also plans to become less reliant on its three major customers and the Big Three automakers, General Motors Corp., Ford Motor Co. and Chrysler Group.

Burns said that although Dana has historically...
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