Brief: Dana Exec Says The Longer The Uaw Strike Continues, The Greater Financial Stress, There Will Be For Tier 2 Through Tier 4 Supply Base -- Conf. Call

Dana

27/10/2023 14:24

Oct 27 (Reuters) - Dana Inc  DAN.N :
    * DANA EXEC SAYS THE LONGER THE UAW STRIKE CONTINUES, THE
GREATER
FINANCIAL STRESS, THERE WILL BE FOR TIER 2 THROUGH TIER 4 SUPPLY
BASE -- CONF. CALL
    * DANA EXEC SAYS HAVE BEEN LARGELY AFFECTED BY 2 OF OUR KEY
CUSTOMERS DUE TO UAW STRIKES
    * DANA EXEC SAYS AS OF TODAY, LESS THAN 10% OF OUR PLANTS
HAVE
BEEN SIGNIFICANTLY AFFECTED
    * DANA EXEC SAYS AS A RESULT OF THE STRIKE, WE SAW $65
MILLION
LOWER SALES IN Q3
    * DANA EXEC SAYS WITH EXPANSION STRIKES EARLIER THIS MONTH,
EXPECT
TO SEE $185 MILLION LOWER SALES IN THE MONTH OF OCTOBER
    * DANA EXEC SAYS STRIKES AFFECTED SOME OF CO'S LARGEST LIGHT
TRUCK
PROGRAMS, INCLUDING FORD SUPER DUTY, RANGER AND BRONCO, JEEP
WRANGLER AND GLADIATOR

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