The leading auto component manufacturer Dana Incorporated has signed a definitive agreement to acquire a portion of the thermal-management business of Modine Manufacturing Company’s (NYSE: MOD) automotive segment.
- The deal accelerating the Danas electrification strategy with electric-vehicle thermal technologies, a key source of market growth
- The acquisition balances the company’s current product portfolio by extending its offerings in chillers and water-charged air coolers, adding exhaust-gas recirculation, and expanding its manufacturing process capabilities.
In Oct 2020, Dana Incorporated had acquired a non-controlling stake in Pi Innovo LLC, a leader in embedded software solutions and electronics control units for the light vehicle, commercial vehicle, and off-highway markets.
In January 2020, Kenworth and Dana Incorporated announced their collaboration on electric powertrain development for medium duty Kenworth battery electric vehicles.
In January 2020, Peterbilt Motors Company and Dana Incorporated announced their collaboration on electric powertrain development for Peterbilt Model 220EV battery electric vehicles.
In Oct 2019, Dana Incorporated and Valeo announced a global collaboration to develop and supply 48-volt electric-vehicle systems for new-mobility applications, including low-speed electric and hybrid e-AWD vehicles.
About Dana Incorporated
Dana Incorporated, headquartered in Ohio, United States, is a global leader in providing power-conveyance and energy-management solutions for vehicles. The company helps to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. The company is a leading supplier of axles, driveshafts, transmissions, and electrodynamic, thermal, sealing, and digital equipment for conventional, hybrid, and electric-powered vehicles. The company has more than 36,000 associates in about 34 countries across six continents.