First publishedon www.WorldHighways.com
Dana Incorporated (has completed the acquisition of the Drive Systems segment of the Oerlikon Group. This deal includes the Graziano and Fairfield brands and expands Dana’s capabilities in electrification as well as its manufacturing presence in key growth markets.
The addition of the Drive Systems segment to Dana creates opportunities for increased revenue and profitable growth. These include: extending Dana's current technology portfolio; growing its electronic controls capability for transmissions and drivelines; increasing its product offerings for vehicle electrification in off-highway; optimising global manufacturing to in key growth markets such as China and India, as well as the US; adding four research and development facilities to Dana's extensive network of technology centres.
"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," said James Kamsickas, president and chief executive officer of Dana. "The Drive Systems business 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, but are not limited to AGCO, Caterpillar, CNH, Daimler, John Deere, SANY and Terex.