Dana has announced that it has completed the acquisition of the Drive Systems segment of the Oerlikon Group, including the Graziano and Fairfield brands. The acquisition expands Dana’s capabilities in electrification and further optimizes its manufacturing presence in key growth markets.
The addition of the Drive Systems segment will extend Dana’s current technology portfolio, particularly 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 move will also grow Dana’s electronic controls capability for transmissions and drivelines through the acquisition of Vocis, a wholly owned business of Oerlikon Drive Systems, and further expand its motors technologies through Ashwoods Electric Motors.
The acquisition will also increase Dana’s product offerings to support vehicle electrification in each of the company’s end markets – light vehicle, commercial vehicle, and off-highway.
In addition, Dana believes the purchase will optimize its global manufacturing presence by enabling sites to be closer to customers in key growth markets such as China and India, as well as the USA.
The deal will also see Dana add four research and development facilities to its 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’s 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 USA.”