Dana Incorporated acquires drives systems segment of Oerlikon Group
March 1, 2019 – Dana Incorporated has completed its acquisition of the drive systems segment of the Oerlikon Group, a manufacturer of materials processing equipment.
The acquisition includes the Graziano and Fairfield brands and, according to the company, the addition of the drive systems segment will expand 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.
The drives systems segment will also increase Dana's electronic controls capability for transmissions and drivelines through the acquisition of VOCIS, a wholly owned business of Oerlikon Drive Systems, and further expanding its motors technologies through Ashwoods Electric Motors.
As part of the deal, Dana will add four of Oerlikon Drive Systems' research and development facilities to its existing network of technology centres, as well as 12 manufacturing facilities.
"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," says James Kamsickas, president and chief executive officer of Dana.
The Drive Systems business serves a global roster of original-equipment manufacturers with a portfolio of high-tech products that can be found in a range of applications for operating machinery and equipment used in agriculture, construction, energy, mining, on-road transportation, and high-performance sports cars.
Customers include AGCO, BMW, Caterpillar, Daimler, John Deere, Fiat Chrysler Automobiles, Terex, Volkswagen and AB Volvo.
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