Dana to Buy Swiss Driveline Business

Dana Inc. signed a definitive agreement to purchase the Drive Systems segment of Switzerland’s Oerlikon Group for 600 million francs ($600 million).

The acquisition is expected to close in late 2018 or early 2019. The deal includes the Oerlikon Graziano and Oerlikon Fairfield brands that produce precision gear, planetary hub drives, controls and software for passenger, commercial and tracked vehicles.

Dana says the Oerlikon product line complements its current portfolio and will support its expansion into electrified drivetrains and global markets such as China and India. The deal also includes five research and development facilities.

Founded in 1919, Oerlikon Drive Systems generated revenue of 730 million francs ($730 million) in 2017. Customers include Ashok Leyland, Aston Martin, BMW, Caterpillar, CNH, Daimler, John Deere, Ferrari, Fiat Chrysler, MAN, McLaren, Oshkosh, Scania, Volkswagen and Volvo Truck.