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Dana Reaches Labor Agreement With Unions

Auto supplier Dana Holding Corp. said Tuesday it has reached new three-year labor agreements covering 4,000 workers.

MAUMEE, Ohio (AP) -- Auto supplier Dana Holding Corp. said Tuesday it has reached new three-year labor agreements covering 4,000 workers.

The agreements, with the United Auto Workers and United Steelworkers unions, are effective June 1. They include Dana's first-ever profit-sharing payments to workers based on the company's performance.

The contracts cover 20 U.S. plants that used to be governed by individual contracts before Dana's bankruptcy in 2006. Steelworkers spokesman Jim Robinson said the agreements help eliminate some of the wage disparities between those plants by raising wages at low-end plants and giving lump-sum payments but no wage hikes to workers at the high end, who make around $20 to $25 per hour.

UAW workers approved the contract last week, while workers represented by the Steelworkers approved it Monday.

"We appreciate the unions' commitment to Dana's long-term success," Mark Wallace, president of Dana's Heavy Vehicle Products Group, said in a statement.