Dana completes buyout of Oerlikon Group’s Drive Systems division
Acquisition expands Dana's offerings, optimizes manufacturing presence in key growth markets
Dana Incorporated has announced that it has completed the acquisition of the Drive Systems segment of the Oerlikon Group, including 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.
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 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;
- 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;
- Adding four R&D facilities to Dana's extensive network of technology centers, as well as 12 facilities to its 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."
The Drive Systems business serves a global roster of original-equipment manufacturers 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.
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