MAUMEE, Ohio – Dana announced today that it has completed the acquisition of the Drive Systems segment of the Oerlikon Group, including the Graziano and Fairfield brands.
According to Dana, 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;
- growing Dana’s electronic controls capability for transmissions and drivelines;
- 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 key growth markets such as China and India, as well as the United States;
- and adding four research and development facilities to Dana’s extensive 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. “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.”
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