Dana Finalizes Deal for Oerlikon’s Drive Systems Unit
Dana Inc. announced it has completed the acquisition of the drive systems segment of the Oerlikon Group, including the Graziano and Fairfield brands, to expand the company’s capabilities in electrification and its manufacturing presence in key growth markets.
ICYMI: Today, we acquired the Drive Systems segment of the Oerlikon Group, including the Graziano and Fairfield brands. We are excited for them to join the Dana team and look forward to continuing to serve our valued customers. https://t.co/DeDpE8wHkE pic.twitter.com/H0OL51ZRWA — Dana Incorporated (@DanaInc_) March 1, 2019
“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,” CEO James Kamsickas said in a release.
The addition of the drive systems segment is immediately accretive to earnings and creates a number of opportunities for increased revenue and profitable growth, according to Maumee, Ohio-based Dana.
Besides more product offerings — including high-precision helical gears plus electronic controls for transmissions — the acquisition adds four research and development facilities to Dana’s network of technology centers as well as 12 facilities to the company’s global manufacturing footprint. — Transport Topics
