08.08.2018

Dana acquires Drive Systems

Global drive train and transmission supplier Dana has agreed the acquisition of the Drive Systems division of gear manufacturer Oerlikon.

Dana is paying CHF 600 million ($603 million) for the business. Subject to customary regulatory approvals, the acquisition should be completed by the end of the year. The acquisition follows Dana’s purchase of TM4 - see Dana acquires TM4 electric drive.

Dana chief executive Jim Kamsickas said: “Oerlikon Drive Systems is a well-respected technology company that has provided exceptional product innovation and customer satisfaction for nearly a century. This investment will deliver significant long term value by accelerating our commitment to vehicle electrification and strengthening the technology portfolio for each of our end markets while further expanding and balancing the manufacturing presence of our off-highway business in key geographical markets.”

“Oerlikon’s technology will enable Dana to expand our product offerings for customers in the off-highway segment while complementing our rapidly growing portfolio of electrified product offerings for all end markets. Further, Oerlikon’s manufacturing and R&D footprint enhances our ability to serve many of our current customers while connecting us with new customers, especially in India and China.”

Established in 1919, Oerlikon Drive Systems employs approximately 5,900 and operates 10 manufacturing and engineering facilities in the UK, USA, China, India and Italy, with two additional facilities under construction in China. The company consists of two global brands, Oerlikon Graziano and Oerlikon Fairfield with products used in wide range of machinery and equipment used construction, energy, mining and transportation.