Dana has announced that the company has completed all the formalities required for its acquisition of the Drive Systems segment of the Oerlikon Group, which will cover the Graziano and Fairfield brands as well. As an outcome of this acquisition, the company will be able to expand its capabilities in electrification and to further optimize its manufacturing presence in key markets. The earnings of the company are bound to increase on an immediate basis as a result of this acquisition it will create a number of opportunities for higher revenue and more profitable growth. They will include:
– The extension of Dana’s current technology portfolio, especially when it comes to high-precision helical gears meant for light and commercial vehicles as well as planetary hub drives for wheeled and tracked vehicles in the off-highway
-Dana will be able to grow its electronic controls capability for transmissions and drivelines through the acquisition of VOCIS. VOCIS is a wholly owned business of Oerlikon Drive Systems. Dana will also be able to expand its range of
motors technologies through Ashwoods Electric Motors;
-Dana will be able to expand its range of products that support vehicle electrification in each of its end markets – light vehicle, commercial vehicle, and off-highway;
– The company would be able to optimize its global manufacturing presence to be closer to customers in major markets like China and India, as well as the United States; and
– With this acquisition, Dana will be able to add four research and development facilities to its extensive network of technology centers, and 12 facilities to its manufacturing footprint.
Commenting on the deal, James Kamsickas, president and CEO of Dana said that the company’s acquisition of Oerlikon’s Drive Systems segment will make it easier to support its customers’ shift toward vehicle electrification across almost every vehicle architecture in the light vehicle, commercial vehicle and off-highway segments. He also said that the highly talented team that it will acquire from Oerlikon will give its customers access to critical manufacturing capabilities in major markets like India, China and the United States.
The Drive Systems business caters to the needs of globally renowned original equipment manufacturers with its range of high-tech products that are used for a wide range of applications for operating machinery and equipment which are used in agriculture, construction, energy, mining, on-road transportation and high-performance sports cars.
Some of the unit’s customers include Ashok Leyland, Aston Martin, AGCO, BMW, Caterpillar, CNH, Daimler, John Deere, Ferrari, Fiat Chrysler Automobiles, MAN, McLaren, Oshkosh, SANY, Scania, Terex, Volkswagen and AB Volvo.
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