Dana Reaches New International Agreements with UAW and USW

Members Ratify Both Agreements

Mar 29, 2011, 12:00 ET from Dana Holding Corporation

MAUMEE, Ohio, March 29, 2011 /PRNewswire/ -- Dana Holding Corporation (NYSE: DAN) today announced that it has reached new three-year international labor agreements with the United Auto Workers (UAW) and United Steel Workers (USW), effective June 1, 2011.  The agreements were recently ratified by members of both unions at 20 facilities in the U.S. and support the company's continued drive for leaner, more competitive operations.  

"The entire negotiation process, from bargaining to ratification, was achieved on an expedited and mutually agreed upon timetable," said Martin Bryant, president of Dana's Light Vehicle Products Group.  "More importantly, dialogue from start to finish was characterized by respect for every individual's economic future and a shared commitment to world-class operations and product quality.  Reaching new agreements nearly 10 weeks before the current contracts expire allows the Dana team to better focus on the needs of our customers."

"We appreciate the unions' commitment to Dana's long-term success," added Mark Wallace, president of the Heavy Vehicle Products Group.  "Dana's transformation over the past few years has been driven by our people and accomplished in sync with our UAW- and USW-represented employees.  As implementation of our lean production system, called the Dana Operating System, progresses to the next phase, the ideas and engagement of our production teams becomes even more critical to delivering the results our customers and shareholders expect."

Approximately 4,000 Dana employees are members of the UAW and USW.

About Dana Holding Corporation

Dana is a world leader in the supply of driveline products (axles, driveshafts, and transmissions), power technologies (sealing and thermal-management products), and genuine service parts for light- and heavy-duty vehicle manufacturers.  The company's customer base includes nearly every major vehicle manufacturer in the global automotive, commercial vehicle, and off-highway markets.  Based in Maumee, Ohio, the company employs approximately 22,500 people in 26 countries and reported 2010 sales of $6.1 billion.  For more information, please visit: www.dana.com.

SOURCE Dana Holding Corporation