UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
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Standard Motor Products, Inc.
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(Name of Issuer)
Common Stock, par value $2.00 per share
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(Title of Class of Securities)
853666105
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(CUSIP Number)
Michael L. DeBacker
Dana Corporation
4500 Dorr Street
Toledo, Ohio 43615
(419) 535-4500
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 30, 2003
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. / /
(Continued on following pages)
(Page 1 of 17 Pages)
CUSIP NO. 853666105 SCHEDULE 13D PAGE 2 OF 17 PAGES
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1 NAMES OF REPORTING PERSONS
Dana Corporation
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
34-4361040
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Virginia
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,378,760
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,378,760
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,378,760 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 853666105 SCHEDULE 13D PAGE 3 OF 17 PAGES
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1 NAMES OF REPORTING PERSONS
Automotive Controls Corp.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
06-0793594
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,378,760
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,378,760
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,378,760 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 853666105 SCHEDULE 13D PAGE 4 OF 17 PAGES
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1 NAMES OF REPORTING PERSONS
BWD Automotive Corporation
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
06-1043482
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,378,760
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,378,760
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,378,760 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 853666105 SCHEDULE 13D PAGE 5 OF 17 PAGES
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1 NAMES OF REPORTING PERSONS
PACER INDUSTRIES, INC.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
06-1044104
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Missouri
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,378,760
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,378,760
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,378,760 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 853666105 SCHEDULE 13D PAGE 6 OF 17 PAGES
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1 NAMES OF REPORTING PERSONS
Ristance Corporation
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
35-1100419
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Indiana
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,378,760
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,378,760
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,378,760 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 853666105 SCHEDULE 13D PAGE 7 OF 17 PAGES
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1 NAMES OF REPORTING PERSONS
Engine Controls Distribution Services, Inc.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
31-1637012
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
1,378,760
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,378,760
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,378,760 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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CUSIP NO. 853666105 SCHEDULE 13D PAGE 8 OF 17 PAGES
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to shares of Common Stock, par value $2.00
per share (the "COMMON STOCK"), of Standard Motor Products, Inc., a New York
corporation (the "ISSUER"). The Issuer's principal executive offices are located
at 37-18 Northern Boulevard, Long Island City, New York 11101.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule 13D is filed on behalf of Dana Corporation, a Virginia
corporation ("DANA"), Automotive Controls Corp., a Connecticut corporation, BWD
Automotive Corporation, a Delaware corporation, Pacer Industries, Inc., a
Missouri corporation, Ristance Corporation, an Indiana corporation, and Engine
Controls Distribution Services, Inc., a Delaware corporation (collectively with
Dana, the "REPORTING PERSONS"). Each of Automotive Controls Corp., BWD
Automotive Corporation, Pacer Industries, Inc., Ristance Corporation and Engine
Controls Distribution Services, Inc. is a subsidiary of Dana.
Dana is one of the world's largest independent suppliers of modules,
systems and components for light, commercial and off-highway vehicle original
equipment manufacturers globally and for related original equipment service and
aftermarket customers. The other Reporting Persons design, manufacture, sell
and/or distribute products and systems for the automotive and automotive
aftermarket businesses.
The principal executive offices of each of the Reporting Persons are
located at 4500 Dorr Street, Toledo, Ohio 43615.
None of the Reporting Persons has, during the last five years, (i) been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), or (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which it was or is
subject to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws.
The information required by clauses (a) through (f) of Item 2 of
Schedule 13D for each person enumerated in Instruction C of Schedule 13D is
provided on Schedule I hereto.
CUSIP NO. 853666105 SCHEDULE 13D PAGE 9 OF 17 PAGES
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On June 30, 2003 (the "CLOSING DATE"), pursuant to the Asset Purchase
Agreement, dated as of February 7, 2003, as amended (the "PURCHASE AGREEMENT"),
by and among the Reporting Persons and the Issuer, the Issuer acquired a
significant portion of the Engine Management Operations of Dana's Automotive
Aftermarket Group (the "Transaction") in consideration for 1,378,760 shares of
Common Stock (such shares of Common Stock, as they may be adjusted pursuant to
the terms of the Purchase Agreement, the "SHARES"), to which this report
relates, $90.75 million in cash and a Note (as defined in Item 6). The Shares
and the Note were each issued to Dana as designee for the Reporting Persons
pursuant to the terms of the Purchase Agreement.
Pursuant to the Purchase Agreement, the total consideration payable to
the Reporting Persons in the Transaction, including the number of shares of
Common Stock and the principal amount of the Note, is subject to a post-closing
purchase price adjustment based on the net book value of the assets acquired,
less the net book value of the liabilities assumed, by the Issuer in the
Transaction as of the Closing Date. Any such adjustment will be made ratably to
the value of the cash, the principal amount of the Note and the shares of Common
Stock received by the Reporting Persons on the Closing Date, but the total
consideration payable to the Reporting Persons in the Transaction will not
exceed $125.0 million in the aggregate.
Copies of the Purchase Agreement and the Note have been filed as
Exhibit 1 and Exhibit 2, respectively, to this report and are incorporated
herein by this reference. References to, and descriptions of, the Purchase
Agreement, the Note and the Share Ownership Agreement (as defined in Item 4) in
this Schedule 13D are not intended to be complete and are qualified in their
entirety by reference to the full texts thereof.
ITEM 4. PURPOSE OF TRANSACTION.
As disclosed in Item 3, the Reporting Persons acquired the Shares and
the Note as partial consideration for the Transaction pursuant to the terms of
the Purchase Agreement. The Shares and the Note were acquired for investment
purposes by Dana as designee for the Reporting Persons.
The Reporting Persons may acquire additional shares of Common Stock as
a result of the post-closing purchase price adjustment described in Item 3.
Further, each Reporting Person expects to evaluate on an ongoing basis the
Issuer's financial condition, business operations and prospects, market price of
the Shares, conditions in securities markets generally, general economic and
industry conditions, liquidity needs, alternative investment opportunities and
other factors. Accordingly, each Reporting Person reserves the right to change
its plans and intentions at any time, as it deems appropriate. In particular,
each Reporting Person may at any time and from time to time acquire additional
Common Stock or securities convertible or exchangeable for Common Stock; may
dispose of Shares (subject to, among other things, the Lock-up Period (as
defined in Item 6)) or the Note; and/or may enter into privately negotiated
derivative transactions with institutional counterparties to hedge the market
risk of some or all of its positions in such Shares. Any such transactions may
be effected at any time and from time to
CUSIP NO. 853666105 SCHEDULE 13D PAGE 10 OF 17 PAGES
time subject to any applicable limitations of the Securities Act of 1933 (the
"SECURITIES ACT") and any applicable limitations and restrictions set forth in
the Purchase Agreement, the Share Ownership Agreement, dated as of the Closing
Date (the "SHARE OWNERSHIP AGREEMENT"), by and between the Issuer and Dana or
the Note. If any Reporting Person engages in any such transaction, such
Reporting Person may determine to retain some portion of the Note or the Shares
as an investment. To the knowledge of each Reporting Person, each of the persons
listed on Schedule I hereto may make the same evaluation and reserves the same
rights.
Other than as set forth herein, none of the Reporting Persons or any
person listed on Schedule I hereto has any present plans or proposals that
relate to or would result in any of the actions specified in clauses (a) through
(j) of Item 4 of Schedule 13D.
Copies of the Purchase Agreement, the Note and the Share Ownership
Agreement have been filed as Exhibit 1, Exhibit 2, and Exhibit 3, respectively,
to this report and are incorporated herein by this reference.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Pursuant to the Transaction, the Reporting Persons together acquired
1,378,760 shares of Common Stock, which comprise 7.0% of the outstanding shares
of Common Stock. The Reporting Persons have shared power to vote, or to direct
the voting of, and shared power to dispose, or direct the disposition of, the
Shares.
Other than as set forth in this Schedule 13D, to the knowledge of the
Reporting Persons as of the date hereof, (i) none of the Reporting Persons or
any person listed on Schedule I hereto beneficially own any shares of Common
Stock and (ii) there have been no transactions in shares of Common Stock
effected during the past 60 days by any Reporting Person or any person listed on
Schedule I hereto.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
As disclosed in Item 3, pursuant to the terms of the Purchase
Agreement, the Reporting Persons acquired the Shares and the Note as partial
consideration for the Transaction, and the Shares and the Note were each issued
to Dana as designee for the Reporting Persons. The number of Shares and the
principal amount of the Note may increase or decrease as a result of the
post-closing purchase price adjustment described in Item 3.
Pursuant to the Purchase Agreement, a holder desiring to transfer the
Note or any Shares first must furnish the Issuer with (i) evidence reasonably
satisfactory to the Issuer that the holder may transfer the Note or such Shares
as desired without registration under the Securities Act and (ii) a written
assignment executed by the desired transferee, satisfactory to the Issuer,
agreeing to be bound by the terms of the Note and the Subordination Agreement
(as defined below) or the
CUSIP NO. 853666105 SCHEDULE 13D PAGE 11 OF 17 PAGES
restrictions on transfer contained in the Purchase Agreement and in the Share
Ownership Agreement, as applicable.
Further, pursuant to the Share Ownership Agreement, Dana has agreed not
to Transfer (as defined below) any of the Shares for a period of thirty months
following the Closing Date (such period, the "LOCK-UP PERIOD"), except that (i)
Dana may Transfer Shares to its Affiliates (as defined in the Share Ownership
Agreement) or to the Issuer or its Affiliates and (ii) during the Lock-Up Period
Dana may participate in a Transfer in connection with a Change of Control
Transaction (as defined in the Share Ownership Agreement). As used in the Share
Ownership Agreement, "Transfer" means (i) offer, sell, assign, transfer, agree
to sell, assign or transfer, sell any option or contract to purchase, purchase
any option or contract to sell, grant any option, right or warrant to purchase,
assign, pledge, hypothecate or otherwise transfer or dispose of (including the
deposit of any Shares into a voting trust or similar arrangement), directly or
indirectly, any of Shares or any securities exercisable or exchangeable
therefor, or any interest therein or (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic
consequences of owning any Shares whether any such transaction described in
clause (i) or (ii) of this sentence is to be settled by delivery of Shares or
other securities, in cash or otherwise.
The Share Ownership Agreement provides that during the last fifteen
months of the Lock-Up Period, if the Issuer proposes to register any of its
shares or other securities under the Securities Act in connection with certain
public offerings of such securities, the Issuer will promptly give Dana written
notice of such registration. Upon the written request of Dana within 20 days
after the mailing of such notice by the Issuer, the Issuer will, subject to
certain provisions of the Share Ownership Agreement, use its commercially
reasonable efforts to cause to be registered under the Securities Act all of the
Shares that Dana has requested to be registered, so long as the Shares to be
registered shall result in an anticipated aggregate offering price of at least
$1.0 million, on the terms and subject to the conditions and limitations set
forth in the Share Ownership Agreement.
The Share Ownership Agreement provides that if, at any time within 90
days following a mutual determination in good faith by the Issuer and Dana that
Dana is not able to sell Shares at the end of the Lock-Up Period without
restrictions under Rule 144(k) of the Securities Act, the Issuer receives from
Dana a written request that the Issuer effect a registration on Form S-3 and any
related qualification or compliance with respect to all (but not less than all)
of the Shares, the Issuer will use commercially reasonable efforts to effect, as
expeditiously as possible, such registration and compliances as may be so
requested and as would permit or facilitate the sale and distribution of all
(but not less than all) of the Shares, on the terms and subject to the
conditions and limitations set forth in the Share Ownership Agreement.
Pursuant to the terms of the Purchase Agreement, on the Closing Date
the Issuer delivered to Dana an unsecured subordinated promissory note in the
aggregate principal amount of $15.125 million (the "NOTE"). The Note has an
interest rate of 9.0% per annum for the first year, with such interest rate
increasing by 0.5% on each anniversary of the Closing Date.
CUSIP NO. 853666105 SCHEDULE 13D PAGE 12 OF 17 PAGES
Interest on the unpaid principal balance of the Note accrues monthly, and
accrued and unpaid interest is due quarterly under the Note. The maturity date
of the Note is December 30, 2008. The Issuer may prepay the Note in whole or in
part at any time without penalty. The indebtedness evidenced by the Note is
subordinate in the manner and to the extent set forth in the Subordination
Agreement, dated as of the Closing Date (the "SUBORDINATION AGREEMENT"), by and
among Dana, General Electric Capital Corporation, as agent, and the Issuer.
Copies of the Purchase Agreement, the Note and the Share Ownership
Agreement have been filed as Exhibit 1, Exhibit 2, and Exhibit 3, respectively,
to this report and are incorporated herein by this reference.
To the best of the knowledge of the Reporting Persons, except as
described in this Schedule 13D, there are at present no other contracts,
arrangements, understandings or relationships (legal or otherwise) between (i)
any Reporting Person or any person listed on Schedule I hereto and (ii) any
other person with respect to any securities of the Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1 Asset Purchase Agreement, dated as of February 7, 2003, by
and among Dana Corporation, Automotive Controls Corp., BWD
Automotive Corporation, Pacer Industries, Inc., Ristance
Corporation, Engine Controls Distribution Services, Inc.
and Standard Motor Products, Inc.
Exhibit 2 Promissory Note in the principal amount of $15.125 million,
dated as of June 30, 2003, made by Standard Motor Products,
Inc. payable to Dana Corporation.
Exhibit 3 Share Ownership Agreement, dated as of June 30, 2003, by
and between Standard Motor Products, Inc. and Dana
Corporation.
Exhibit 4 Joint Filing Agreement, dated as of July 8, 2003, by and
among Dana Corporation, Automotive Controls Corp., BWD
Automotive Corporation, Pacer Industries, Inc., Ristance
Corporation and Engine Controls Distribution Services, Inc.
CUSIP NO. 853666105 SCHEDULE 13D PAGE 13 OF 17 PAGES
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: July 8, 2003 DANA CORPORATION
By: /s/ Michael L. DeBacker
---------------------------
Name: Michael L. DeBacker
Title: Vice President
AUTOMOTIVE CONTROLS CORP.
By: /s/ Thomas Madden
---------------------------
Name: Thomas Madden
Title: Vice President
BWD AUTOMOTIVE CORPORATION
By: /s/ Thomas Madden
---------------------------
Name: Thomas Madden
Title: Vice President
PACER INDUSTRIES, INC.
By: /s/ Harry M. Whited
---------------------------
Name: Harry M. Whited
Title: President
RISTANCE CORPORATION
By: /s/ Thomas Madden
---------------------------
Name: Thomas Madden
Title: Vice President
ENGINE CONTROLS DISTRIBUTION
SERVICES, INC.
By: /s/ Thomas Madden
---------------------------
Name: Thomas Madden
Title: Vice President
CUSIP NO. 853666105 SCHEDULE 13D PAGE 14 OF 17 PAGES
SCHEDULE I
Unless otherwise noted herein, each person listed herein (i) performs
his or her principal occupation at Dana Corporation, (ii) has a principal
business address of 4500 Dorr Street, Toledo, Ohio 43615, and (iii) is a United
States citizen.
None of the persons listed herein has, during the last five years, (i)
been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), or (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which he or she was
or is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
DANA CORPORATION
Directors:
Benjamin F. Bailar
Former Dean and Professor of Administration Emeritus, Jesse H. Jones
Graduate School of Administration, Rice University
A. Charles Baillie
Chairman of The Toronto-Dominion Bank
Toronto Dominion Center, 55 King Street, West - 4th Floor, Toronto,
Ontario M5K 1A2, Canada (Canadian citizen)
Edmund M. Carpenter
Chief Executive Officer and President of Barnes Group, Inc., a
diversified international company that serves a range of industrial and
transportation markets
123 Main Street, Bristol, CT 06011
Eric Clark
Former Director of BICC plc, a United Kingdom company serving the
international market for infrastructure development (United Kingdom
citizen)
Cheryl W. Grise
President, Utility Group of Northeast Utilities
P.O. Box 270, Hartford, CT 06141
Glen H. Hiner
Former Chairman and Chief Executive Officer of Owens Corning, a
manufacturer of advanced glass and composite materials
CUSIP NO. 853666105 SCHEDULE 13D PAGE 15 OF 17 PAGES
James P. Kelly
Former Chairman and Chief Executive Officer of United Parcel Service
Inc.
Joseph M. Magliochetti
Chairman and Chief Executive Officer of Dana Corporation
Marilyn R. Marks
Former Chairman of Dorsey Trailers, Inc., a manufacturer of truck
trailers
Richard B. Priory
Chairman and Chief Executive Officer of Duke Energy Corporation, a
supplier of energy and related services
Fernando M. Senderos
Chairman and Chief Executive Officer of DESC, S.A. de C.V., a Mexican
diversified holding company engaged in automotive parts, chemical, food
and real estate businesses
Paseo de Tamarindos 400-B-32, Col. Bosques de las Lomas, 05120 Mexico
D.F., Mexico (Mexican Citizen)
Executive Officers:
Joseph M. Magliochetti
Chairman and Chief Executive Officer
William J. Carroll
President - Automotive Systems Group
Bernard N. Cole
President - Heavy Vehicle Technologies and Systems Group
Marvin A. Franklin, III
President - Dana International and Global Initiatives
Charles F. Heine
President - Technology Development and Diversified Products
James M. Laisure
President - Engine and Fluid Management Group
Terry R. McCormack
President - Automotive Aftermarket Group
Robert C. Richter
Vice President and Chief Financial Officer
CUSIP NO. 853666105 SCHEDULE 13D PAGE 16 OF 17 PAGES
Richard J. Westerheide
Chief Accounting Officer and Assistant Treasurer
AUTOMOTIVE CONTROLS CORP.
Directors and Executive Officers:
Thomas Madden
Director and Vice President
Harry M. Whited
President
BWD AUTOMOTIVE CORPORATION
Directors and Executive Officers:
Thomas Madden
Director and Vice President
Harry M. Whited
President
PACER INDUSTRIES, INC.
Directors and Executive Officers:
Thomas Madden
Director
Harry M. Whited
President
RISTANCE CORPORATION
Directors and Executive Officers:
Thomas Madden
Director and Vice President
Robert M. Sweeney
President
CUSIP NO. 853666105 SCHEDULE 13D PAGE 17 OF 17 PAGES
ENGINE CONTROLS DISTRIBUTION SERVICES, INC.
Directors and Executive Officers:
Thomas Madden
Director and Vice President
Marlene D. Smith
President and Chief Executive Officer