Allison Transmission has acquired the off-highway drive and motion systems business of Dana Incorporated, a provider of drivetrain and propulsion solutions, for approximately US$2.7bn. The combination of advanced technologies and products will support growth and strengthen the company’s position as a provider of commercial mobility and work solutions.
“We are excited to welcome our new colleagues from Dana Incorporated’s off-highway drive and motion systems business to Allison,” said David Graziosi, Allison chair, president and CEO. “Together, we have an expanded market reach and broader portfolio of high-quality and reliable products, creating a global platform that will continue to deliver strong financial performance from both organic and inorganic growth. Our talented colleagues are dedicated to helping support our customers and their end users to better capitalize on the global megatrends shaping the modern industrial world.”
The combined company will be headquartered in Indianapolis, Indiana, USA, and led by Graziosi. The company will operate under the Allison name and be comprised of two business units. Allison Transmission will be led by Fred Bohley, president and business unit leader, who will continue to serve as Allison’s chief operating officer, and Allison Off-Highway Drive & Motion Systems will be led by Craig Price, president and business unit leader,b both of whom will report to Graziosi.
In related news, Allison Transmission expands partnerships in India