Dana Inc today completed the acquisition of the drive systems business of the Oerlikon Group, which includes the Graziano and Fairfield brands. This acquisition expands the company's capabilities in electrification and further optimises its manufacturing presence in key growth markets, including India and China.
The addition of the drive systems segment to Dana is immediately accretive to earnings and creates a number of opportunities for increased revenue and profitable growth, including - 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 wheeled and tracked vehicles in the off-highway market; growing 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; optimising 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 adds four R&D facilities to Dana's extensive network of technology centres, as well as 12 facilities to the company's global manufacturing footprint.
James Kamsickas, president and CEO, Dana, said: "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. 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."
The company says the new business serves a global roster of OEMs with a portfolio of high-tech products that can be found in a wide range of applications for operating machinery and equipment used in agriculture, construction, energy, mining, on-road transportation, and high-performance sports cars.
In terms of global customer base of the newly acquired business includes 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.