By Nora Naughton, Crain News Service
MAUMEE, Ohio (June 10, 2014) — Longtime axle and powertrain parts supplier Dana Holding Corp. plans to expand its headquarters in suburban Toledo, Ohio, and consolidate workers from other offices in the new space.
The expansion of the 191,000-sq.-ft. corporate office and technology center is estimated to cost $7 million to $10 million, and the building will grow by more than 40,000 square feet.
Dana—one of the suppliers to Ford’s Model T with roots dating back 110 years—survived nearly a two-year bankruptcy reorganization in 2006-08 along with the U.S. economic crisis that followed. It moved out of its longtime headquarters in Toledo to the office in Maumee, Ohio, after the bankruptcy.
“We are very excited about our future growth,” said Dana spokesman Jeff Cole.
Dana had leased the headquarters building and surrounding property from the Toledo-Lucas County Port Authority since the facility was built in 2003, but Dana Cos.—a Dana subsidiary—purchased the building and property for $17.6 million in mid-April.
Work on the expansion is expected to begin in September, and if construction starts on time, the work should be done in the summer of 2015.
When the expansion is complete, Dana will close its office two miles north of the headquarters building. A majority of the nearly 175 employees from that facility will move to the expanded headquarters building, Cole said.
Others from the company’s suburban Detroit office also will be moved to the expanded building in Ohio.
About 450 people plus contractors work in the current headquarters, and that number should rise by about 200 once expansion is complete, Cole said.
Separately, the United Autoworkers (UAW) union said its members ratified a three-year agreement with Dana that provides wage increases for all workers. The agreement covers 2,500 UAW members in 11 Dana plants in the U.S.
The agreement improves pensions and narrows the gap between wage tiers, the union said.
“We have continued to close the wage gap between those workers who were hired after the Dana bankruptcy, while recognizing and rewarding those dedicated workers who successfully carried Dana through bankruptcy,” Cindy Estrada, a UAW vice president, said in the statement.
This report appeared in Automotive News, a Detroit-based sister publication of Tire Business.
With one-third of 2018 in the books, how would you characterize business thus far?
|Sales are behind where we were last year at this point.||
29% (36 votes)
|Our sales are about the same as last year.||
20% (25 votes)
|The first four months have been extremely strong; let's hope we can maintain it.||
33% (41 votes)
|One month up, one month down ...||
18% (22 votes)
|Total votes: 124|