Dana completes acquisition of Oerlikon's Drive Systems segment
By Jim Gibbins - 1st March 2019
USA - Dana Incorporated of Maumee, Ohio has completed its acquisition of the Drive Systems division of the Oerlikon Group, including the Graziano and Fairfield brands. The acquisition expands Dana's capabilities in electrification and boosts its manufacturing presence in key growth markets.
Dana said Drive Systems would be immediately accretive to earnings and create a number of opportunities for increased revenue and profitable growth. These include extending 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; growing 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.
