Archive for Saturday, March 4, 2006

Maker of auto parts seeks protection

March 4, 2006

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Dana Corp., a maker of auto parts, filed for bankruptcy protection Friday for its U.S. operations, joining a growing list of suppliers forced to make major restructuring moves because of the slumping U.S. auto industry.

Dana, which sells brakes, axles and other parts to most major automakers, has been facing increasing pressure from big car makers to sell them parts at lower prices.

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