Under terms of the agreement, Dana plans to acquire USM's
"The acquisition of USM's
The acquisition provides Dana with USM's proprietary tube-manufacturing processes and intellectual property for lightweight thin-wall axle tubes and hollow axle shafts. The products are constructed using a unique proprietary cold-extrusion process that creates varying wall sizes engineered for specific applications. This allows for greater strength in required areas during operation, while delivering a significant overall weight savings for the component.
"This acquisition will also expand Dana's substantial manufacturing footprint in the U.S. and advance our strategy for developing, designing, and manufacturing products in close proximity to our customers," said
The acquisition is reflective of Dana's enterprise strategy, which includes leveraging core expertise, strengthening customer centricity, expanding global markets, commercializing new technologies, and accelerating hybridization and electrification.
The purchase is subject to customary closing conditions and is expected to be completed in the first quarter of 2017.
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 as well as industrial and stationary equipment applications. 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 sales of more than
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Jeff Cole, +1-419-887-3535, firstname.lastname@example.org