Dana seeking opportunities to restructure secured debt, CFO says

By Jennifer Lanning Drey

Savannah, Ga., Dec. 9 - Dana Holding Corp. will continue to look for opportunities to restructure its debt, James Yost, the company's chief financial officer, said during a Thursday presentation at the Goldman Sachs Global Automotive Conference in London.

That debt is largely in the United States and all unsecured, he said.

"Although we've got a couple of years before we really have to worry about it, now is a good time for us to begin to look at doing some refinancing," Yost said.

However, the company's first use of cash will be investing in the business. Yost also noted that capital spending is expected to ramp up in 2011 in order to support customer and product programs being rolled out.

Acquisitions will also be a potential use of cash in 2011, after debt repayment, he said.

Dana is a Toledo, Ohio-based supplier of components, modules and systems to vehicle manufacturers and related aftermarkets.

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