Acquisition Complements Dana’s Capabilities in Electric Motors and Inverters, Increases Content Per Vehicle Opportunities
MAUMEE, Ohio, Jan. 15, 2019 /PRNewswire/ — Dana Incorporated (NYSE: DAN) announced today that it has completed the acquisition of the SME Group, headquartered in Arzignano, Italy. The global SME Group designs, engineers, and manufactures low-voltage AC induction and synchronous reluctance motors, inverters, and controls for a wide range of off-highway electric vehicle applications, including material handling, agriculture, construction, and automated-guided vehicles.
The addition of SME’s low-voltage motors and inverters, which are primarily designed to meet the evolution of electrification in off-highway equipment, significantly expands Dana’s electrified product portfolio.
“Dana’s acquisition of SME enhances our ability to address the electrification and hybridization needs of our customers, while also increasing the potential for incremental content per vehicle,” said Jim Kamsickas, president and chief executive officer of Dana. “SME’s exceptional electric motor and inverter products, which largely support off-highway applications, are highly complementary to the technologies we acquired with TM4, which are predominately focused on light- and commercial-vehicle applications.”
“Dana is equipped to provide complete e-Propulsion systems that balance the demands for performance, power density, and weight,” said Christophe Dominiak, chief technology officer for Dana. “The addition of SME’s low-voltage induction motors rounds out our already robust offering of high-voltage permanent magnet motors and enables us to deliver a complete range of electrified solutions for our customers.”