Dana Incorporated (NYSE: DAN) announced today that it has completed the acquisition of Nordresa Motors, Inc., which is a prominent integration and application engineering expert for the development and commercialization of electric powertrains for commercial vehicles. Terms of the transaction were not disclosed.
The investment further enhances Dana’s electrification capabilities by combining its complete portfolio of motors, inverters, chargers, gearboxes, and thermal-management products with Nordresa’s proprietary battery-management system, electric powertrain controls and integration expertise to deliver complete electric powertrain systems.
“Nordresa’s experience designing and integrating electric vehicle systems enables Dana to offer our customers a complete system solution, including fully-integrated e-Axles, battery and powertrain controls, and thermal management,” said James Kamsickas, Dana president and CEO. “Each of Dana’s customers are at different points on their electrification journey and our strategy remains focused on supporting them with industry-leading technology and expertise for all vehicle architectures.”
The transition of the powertrain to fully electric requires changes to the propulsion system, power steering, air conditioning compressors, and other accessory systems that are specifically engineered for battery-electric solutions. Nordresa’s ability to integrate these systems while customizing the battery storage and management systems enables the most efficient solutions to be offered to customers.
“The electrification of commercial vehicles is rapidly increasing, and Nordresa was in search of a company with a strong heritage and customer-centric culture that would further accelerate our business,” said Sylvain Castonguay, president and CEO of Nordresa. “Joining Dana provides Nordresa access to a global footprint, diverse customer base, and complete portfolio of electrification capabilities that will create long-term value for our customers.”
Dana will continue to leverage the nearly two decades of electrification knowledge and experience of Nordresa’s founders, who will serve in leadership positions at Dana.
Nordresa is headquartered near Montreal, Québec, Canada.
About Dana Incorporated
Dana is a world leader in providing power-conveyance and energy-management solutions for vehicles and machinery. The company’s portfolio improves the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. From axles, driveshafts, and transmissions to electrodynamic, thermal, sealing, and digital solutions, the company enables the propulsion of conventional, hybrid, and electric-powered vehicles by supplying nearly every vehicle and engine manufacturer in the world.
Founded in 1904, Dana employs more than 36,000 people who are committed to delivering long-term value to customers. Based in Maumee, Ohio, USA, and with locations in 33 countries across six continents, the company reported sales of $8.1 billion in 2018. Having established a dynamic, high-performance culture, the company has been recognized globally as a top employer, with significant honors in Asia, India, Italy, Mexico, and the United States. Learn more at www.dana.com.
SOURCE Dana Incorporated