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Published: Friday, 2/2/2007

Dana files documents on benefits cuts

Toledo s Dana Corp. filed its legal arguments for eliminating retiree health-care benefits and rejecting union contracts this week, but the documents and their details are under seal in the U.S. Bankruptcy Court in Manhattan.

A hearing is scheduled to start March 12 on the subject and is expected to last several days. Objections are due by Feb. 22.

Dana, which filed for bankruptcy protection March 3, said in November it wanted to eliminate retiree health coverage, reduce labor costs, and make other moves to cut costs by up to $540 million a year. The auto supplier s plan to exit bankruptcy

is to be fi led by Sept. 3.

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