SHANGHAI, April 17, 2019 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that the company had added five facilities in China since the start of the year. The increase is the result of Dana's recent acquisition of the SME Group, as well as the Drive Systems segment of Oerlikon Group, including the Graziano and Fairfield brands.
The added facilities expand Dana's engineering, manufacturing, testing, and aftermarket service in China. They also strengthen the company's capabilities for electrification and hybridization across the passenger car, commercial-vehicle, and off-highway markets throughout the region.
The recently added facilities are located in:
- Shanghai, which engineers and manufactures SME AC electric motors, inverters, controllers, and accessories;
- Changshu, which produces planetary gear reducers for e-Drives;
- Baoding, which will make e-Axles for new energy buses;
- Suzhou, one which produces city bus axles; and a second that produces drives, axles, and gears primarily for off-highway mobile equipment and industrial machinery.
Dana's footprint in China now encompasses more than 6,750 employees at 23 operations, including those in which Dana holds an interest.
"Dana has been operating in China for more than 25 years, and we see a strong opportunity to accelerate our growth in the Asia-Pacific region," said Jim Kamsickas, president and CEO of Dana. "The addition of these facilities shows how Dana will continue to invest in expanding our capabilities for vehicle manufacturers in China – especially for those that are bolstering their electrification initiatives."
Comprehensive Commitment to Electrification and Hybridization
Over the past two years, Dana has completed a series of strategic transactions to support electrification and hybridization in its core markets, including:
- the acquisition of the power-transmission and fluid power businesses of Brevini;
- the acquisition of a majority stake in TM4, a manufacturer of high-voltage electric motors, power inverters, and control systems;
- the purchase of the SME Group, a designer and manufacturer of low-voltage motors, inverters, and control systems, and;
- the acquisition of the Drive Systems segment of the Oerlikon Group, including a majority stake in Ashwoods Electric Motors, a designer and manufacturer of interior permanent magnet motors.
Combined with the company's core expertise in driveline technologies, sealing systems, thermal management, and digital offerings, these initiatives position Dana as the leading supplier of electrification solutions for the light-vehicle segment.
Dana at Auto Shanghai
Dana's will promote its expanded capabilities for manufacturers of passenger cars and other light vehicles in hall 6.2, stand 6BF060 at Auto Shanghai.
About Dana Incorporated
Dana is a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery. Dana supports the passenger vehicle, commercial truck, and off-highway markets, as well as industrial and stationary equipment applications. Founded in 1904, Dana employs more than 36,000 people in 33 countries on six continents who are committed to delivering long-term value to customers. The company reported sales of $8.1 billion in 2018. Based in Maumee, Ohio, USA, it is a people-centric organization and has been named a top employer of choice around the world, including significant honors in Asia, India, Italy, Mexico, and the United States. For more information, please visit www.dana.com.
SOURCE Dana Incorporated