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Parts supplier cuts sales forecast

August 08, 2008|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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