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
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 €325 million, including the assumption of approximately €100 million of net debt. The transaction was funded with cash on hand.
Founded in 1960, the privately held
"Brevini's customers and employees will find an ideal fit with Dana, a company that delivers true value to customers through a commitment to innovation," said Renato Brevini, president of
Brevini technologies purchased by Dana include a wide range of highly engineered mobile planetary hub drives; planetary gearboxes; hydraulic pumps, motors, and valves; and advanced electronic control systems. Brevini's expertise in cylindrical gearing and planetary hub gears will supplement Dana's long history and market leadership in spiral bevel and hypoid gear technologies. Brevini's technology portfolio increases the patents and patents pending for Dana's off-highway business by 33 percent.
"Brevini's product portfolios will help us to increase Dana content on construction, mining, material-handling, and other off-highway equipment," said
With the completion of this transaction, Brevini financial results will be included in the
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, off-highway, and industrial markets. Founded in 1904, Dana employs approximately 27,000 people in 34 countries on six continents who are committed to delivering long-term value to customers. The company reported preliminary 2016 sales of about
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Jeff Cole, +1-419-887-3535, email@example.com