UAW Approves Three-Year Contract at Dana

About 2,500 United Auto Workers members ratified a new three-year labor contract with truck and auto components maker Dana Holding Corp., the union said.

The deal covers workers at 13 plants in nine states, giving them pay raises and a profit-sharing plan.

It is the first agreement between the UAW and Dana since the supplier emerged from Chapter 11 bankruptcy in January 2008, the union said.

A spokesman for Dana, which makes axles, driveshafts and transmissions, declined to comment on the vote, Reuters reported. The contract expires in June 2014.

Dana in late February boosted its 2011 earnings outlook, saying its revenue and earnings will rise this year.