Bankrupt parts maker Dana Corp. reportedly establishes a 5-point plan to restructure its operations as it reorganizes under Chapter 11 protection. Initially, the company will renegotiate contracts with customers to recover increased expenses for higher raw material costs, saving $175 million-$225 million in the process. Dana also is expected to close eight factories in North America (in addition to the eight closures already announced); modify or reject certain labor contracts in bankruptcy ...

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