Maumee, Ohio (March 1, 2019)—Dana Incorporated has completed the acquisition of the Drive Systems segment of the Oerlikon Group, including the Graziano and Fairfield brands. 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 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 China, India and the United States
• Adding four research and development facilities to Dana's 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. For more information, visit dana.com.
