Dana Inc. said it has completed the acquisition of the Drive Systems segment of the Oerlikon Group, including the Graziano and Fairfield brands. The deal was first announced in July 2018.
Dana said the acquisition expands the company’s capabilities in electrification and further optimizes its manufacturing presence in key growth markets.
Further, Dana said the addition of the Drive Systems segment is immediately accretive to earnings and creates a number of opportunities for increased revenue and profitable growth.
The growth opportunities according to Dana include:
• extending Dana’s current technology portfolio, especially in the area of high-precision helical gears for the light- and commercial-vehicle markets, as well as planetary hub drives for hydraulically driven wheeled and tracked vehicles in the off-highway market;
• growing Dana’s electronic controls capability for transmissions and drivelines through the acquisition of VOCIS, a wholly owned business of Oerlikon Drive Systems, and further expanding its motors technologies through Ashwoods Electric Motors;
• increasing Dana’s product offerings that support vehicle electrification in each of Dana’s end markets – light vehicle, commercial vehicle, and off-highway;
• optimizing Dana’s global manufacturing presence to be closer to customers in key growth markets such as China and India, as well as the United States;
• and adding four research and development facilities to Dana’s extensive network of technology centers, as well as 12 facilities to the company’s global manufacturing footprint.
“Dana’s acquisition of the Drive Systems segment of Oerlikon enables us to support our customers’ shift toward vehicle electrification across nearly every vehicle architecture in the light vehicle, commercial vehicle, and off-highway segments,” said James Kamsickas, president and chief executive officer of Dana. “The Drive Systems business’ highly talented team is also strategically positioned to give our customers access to critical manufacturing capabilities in key growth markets, such as India, China, and the United States.”
Selected customers include, AGCO, Ashok Leyland, Aston Martin, BMW, Caterpillar, CNH, Daimler, John Deere, Ferrari, Fiat Chrysler Automobiles, MAN, McLaren, Oshkosh, SANY, Scania, Terex, Volkswagen, and AB Volvo, Dana said.