Dana slices $100M-plus from '05 earnings outlook as costs surge

Sep 20, 2005 | 09:41 AM | Philip Burgert

A combination of continued higher-than-expected costs for steel and other materials and increased energy costs have prompted automotive components supplier Dana Corp. to lower its 2005 earnings forecast by more than $100 million.

The Toledo, Ohio,-based company said its commercial vehicle business had been unable to achieve projected cost reductions and was reporting significant manufacturing inefficiencies. Executives said the company likely would restate its second-quarter....

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