Dana completes purchase of Brevini power-transmission, fluid power businesses
Resource from: Dana Likes:270
Feb 03,2017
Dana Incorporated (NYSE: DAN) announced that it has completed the acquisition of the power-transmission and fluid power businesses of Brevini Group, S.p.A. The transaction closed yesterday, Feb. 1.
The combination of Brevini into Dana’s business creates numerous opportunities for profitable growth. Among them, the acquisition:
immediately expands Dana’s product portfolio and establishes the company as the only solutions provider that can manage power conveyance to move machines and also perform the work functions of the machine;
increases Dana’s addressable market for off-highway driveline systems by providing access to tracked vehicles in that segment;
significantly broadens the opportunities in industrial markets – an important segment that Dana has served for more than 70 years;
provides a platform of proven technologies that can be offered to Dana’s on-highway customers; and accelerates Dana’s hybridization and electrification initiatives.
“Brevini is a company we have long admired. It is a strong, well-run business that shares Dana’s commitment to serving customers with advanced technologies that deliver exceptional performance and durability,” said James Kamsickas, president and chief executive officer of Dana. “Brevini’s product line is a perfect complement to Dana’s current offerings, which is why we executed this transaction at an opportune time in the off-highway business cycle.”
The acquisition of Brevini aligns with Dana’s enterprise strategy, which includes leveraging core expertise, strengthening customer centricity, expanding global markets, commercializing new technologies, and accelerating hybridization and electrification.
Dana purchased an 80 percent share in the Brevini businesses, with an option to purchase the remaining 20 percent by 2020. Dana has valued 100 percent of the Brevini businesses at
(Dana)
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