New GM for Clevite Engine Parts

Dana Corporation (USA; OTC:DCNAQ, operating under Chapter 11 bankruptcy protection) has named Lee Murray as General Manager for the Clevite Engine Parts Division. Clevite Engine Parts Division includes Clevite 77 engine bearings, camshafts and lifters; Victor Reinz gaskets; and Perfect Circle piston rings. Mr. Murray is responsible for all of Clevite's North American operations. With 31 years at Dana, he replaces Terry Shivley, who retired in March after more than 35 years with Dana. Prior to this move, Mr. Murray had been Clevite Division's VP of Marketing. Before that, he had been on the OEM side as head of sales for Dana's North American steering and suspension business unit. Now designated among its "non-core businesses," the Clevite and Glacier engine bearing operations do not fit in the picture for the post-Chapter 11 Dana's narrower focus on drivetrain and sealing products. Clevite is a brand name now used by Dana's aftermarket engine bearing sales operations, although it traces back to Clevite Corporation, which became a brand name when it merged with Cleveland Graphite Bronze Company (formerly Dann Spring Insert Company) in 1952. Forming the historical circle, Vandervell Products Ltd. got its start in the UK with thinwall bearing manufacturing equipment purchased from Cleveland Graphite Bronze. CGB later renamed itself Clevite Corp, then became part of Gould, Imperial Clevite and T&N plc. Federal-Mogul acquired T&N, and with it the Clevite and Glacier bearing operations. Meanwhile, Vandervell and Glacier had merged in 1988. Federal-Mogul sold the Glacier Vandervell and Clevite polymer and thinwall bearing operations to Dana for a total of $430 million; $410 million for Glacier and $20 million for Clevite. From 1997 through last September 2005, Daido Metal Corporation (Japan) and Glacier operated the Clevite brand engine bearing plant in Bellefontaine, Ohio as a joint venture facility, Glacier Daido America. The plant supplied U.S. domestic auto manufacturers. In 2001, the thinwall plant in Atlantic, Iowa was added to the venture. In September 2005, Dana and Daido abruptly ended the entire joint venture arrangement. Dana took full control of the Glacier Daido America engine bearing plant in Atlantic, Iowa, while Daido took control of the thinwall bearing and component plant in Bellefontaine, Ohio. Dana filed for Chapter 11 bankruptcy protection in March 2006.