Bendix Buys Out Dana’s Share in Joint Venture
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Bendix Commercial Vehicle System announced it acquired full ownership of Bendix Spicer Foundation Brake, the joint venture it formed in 2004 with Dana Inc. Bendix is a subsidiary of Germany-based Knorr-Bremse.
Dana had held a 20% stake in the joint venture. Bendix will incorporate the wheel-end business as one of its five centers of competency and change the name to Bendix Commercial Vehicle Systems effective Jan. 1.
“Bendix and Dana have enjoyed a strong and vibrant partnership as we have successfully guided the strategic path of the joint venture for the past 16 years,” Bendix CEO Mike Hawthorne said in a release. “Now, we look forward to continuing that relationship as we undertake other joint projects and initiatives. “As it was with the formation of BSFB, there are considerable mutual benefits when industry leaders collaborate. We anticipate the future will hold exciting opportunities for both of our companies.”
The joint venture combined the air disc brake, slack adjuster and actuator business units from Bendix with the foundation drum brake business from Dana. Both companies contributed product and technology, as well as manufacturing and distribution leadership, according to Elyria, Ohio-based Bendix.
Terms were not immediately disclosed. — Transport Topics
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