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UAW ratifies contract with auto supplier Dana
March 22, 2011 / 2:44 PM / 7 years ago

UAW ratifies contract with auto supplier Dana

* New contract to expire June 2014

* Includes pay raises, profit sharing

DETROIT, March 22 (Reuters) - About 2,500 members of the United Auto Workers ratified a new three-year labor contract with auto parts maker Dana Holding Corp (DAN.N), providing them with pay raises and a profit-sharing plan.

A majority of the workers at 13 Dana plants approved the agreement over the weekend and through Tuesday, the union said. It is the first deal between the UAW and Dana since the auto parts supplier emerged from Chapter 11 bankruptcy in January 2008.

“The new contract provides members with the first-ever Dana profit-sharing plan, a combination of general wage increases and lump sums, and despite tremendous increases in the cost of health care, UAW members maintained their current level of benefits while keeping premium share increase at minimal levels,” UAW Vice President Cindy Estrada said in a statement.

A spokesman for Dana, which makes axles, driveshafts and transmissions for automakers, declined to comment on the vote. The contract will expire in June 2014.

Dana also is awaiting a ratification vote by workers represented by the United Steelworkers union. (Reporting by Ben Klayman in Detroit; Editing by Derek Caney)

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