Parts supplier cuts sales forecast
From Times Wire Services
Dana Holding Corp., the vehicle-axle and frame maker that emerged from bankruptcy protection in February, lowered its sales forecast and announced plans to cut 3,000 jobs this year after posting a wider second-quarter loss.
Toledo, Ohio-based Dana lost business as output of pickups and sport utility vehicles at Ford Motor Co., General Motors Corp. and Toyota Motor Corp. fell, paring demand for the supplier’s parts.
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