New pacts with unions to trim Dana's operating costs

August 2007
Rubber & Plastics News;8/20/2007, Vol. 37 Issue 2, p4
Trade Publication
The article reports that U.S. federal court judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York approved the settlements between the auto parts maker, the United Steelworkers and United Auto Workers of America on July 26, 2007. The four-year deals replace Dana Corp.'s health-care obligation with union-run trust funds, to which the company will contribute $750 million in cash and stock.


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