Dana Incorporated (NYSE: DAN) has completed its acquisition of the SME Group, based in Arzignano, Italy. The privately held company employs more than 100 people and operates in China, Germany, Canada and Italy.
The deal complements Dana’s capabilities in electric motors and inverters, the company said.
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.
Dana said it will further strengthen its electrification capabilities with the anticipated acquisition of the Drive Systems segment of the Oerlikon group, which will allow the company to provide products for a broad range of hybrid and electric-vehicle configurations. The transaction is expected to close in the first quarter of 2019.
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