Dana to acquire Modine's thermal management business
By Jim Gibbins - 1st April 2021
USA - Dana Incorporated of Maumee, Ohio, has signed a definitive agreement to purchase part of the thermal-management business of Modine Manufacturing Company's automotive segment. The move aims to strengthen Dana's Power Technologies business unit. The agreed purchase price is USD1m with the assumption of certain financial liabilities.
The acquisition remains subject to customary regulatory approvals and other closing conditions. It is expected to be completed in the first half of 2021 and will be consolidated within Dana's Power Technologies division. Dana said it would balance the company's current product portfolio by extending its offerings in chillers and water-charged air coolers, adding exhaust-gas recirculation, and expanding its manufacturing process capabilities.
