Under the terms of the proposed purchase, Dana would acquire manufacturing and other assets of SIFCO. This acquisition will enable Dana to enhance its vertically integrated supply chain, which will further improve the company's cost structure and customer satisfaction by leveraging SIFCO's extensive experience and knowledge of sophisticated forged components.
"For nearly 70 years, Dana has operated in
By expanding manufacturing capabilities in
"Dana has worked with SIFCO for 40 years as a supplier of key components used in vehicle drivelines," said
SIFCO has operated under judicial restructuring since 2014, and the transaction is subject to closing conditions, including bankruptcy court and regulatory approvals. Final financial terms of the agreement are subject to the outcome of closing conditions. The transaction is expected to be completed by the end of 2016.
Dana designs, manufactures, and distributes products in
Dana is a world leader in the supply of highly engineered drivetrain, sealing, and thermal-management technologies that improve the efficiency and performance of vehicles with both conventional and alternative-energy powertrains. Serving three primary markets – passenger vehicle, commercial truck, and off-highway equipment – Dana provides the world's original-equipment manufacturers and the aftermarket with local product and service support through a network of nearly 100 engineering, manufacturing, and distribution facilities. Founded in 1904 and based in
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dana-to-purchase-strategic-driveline-production-assets-of-sifco-sa-in-brazil-300343001.html
Jeff Cole, +1-419-887-3535, email@example.com