Allison Transmission Holdings has, today, announced it has completed its acquisition of the Off-Highway Drive & Motion Systems business of Dana Incorporated, a leading provider of drivetrain and propulsion solutions, for approximately $2.7 billion.
The combination of industry-leading products and advanced technologies will accelerate Allison’s growth and broaden the company’s position as a global provider of commercial duty mobility and work solutions that Improve the Way the World Works, it says.
Dana’s Off-Highway business operates in over 25 countries and serves a global customer base supported by approximately 11,000 employees. Providing solutions for a wide range of applications in construction, forestry, agriculture, specialty, aftermarket, industrial and mining segments, this business is recognised for its powertrain technologies, encompassing axles, propulsion solutions and drivetrain components.
Additionally, Dana specialises in hybrid and electric drive systems tailored to customer needs and is further distinguished by its global network of manufacturing facilities and technical centres, Allison said.
“We are excited to welcome our new colleagues from Dana Incorporated’s Off-Highway Drive & Motion Systems business to Allison,” David Graziosi, Allison Chair, President and CEO, said. “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 capitalise 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 & Business Unit Leader, and Allison Off-Highway Drive & Motion Systems will be led by Craig Price, President & Business Unit Leader. Both Bohley and Price will report to Graziosi, and Bohley will continue to serve as Allison’s Chief Operating Officer.
Business unit leadership will be located around the world, reflecting the global nature of the business and the importance of local insights for its customers and stakeholders.
Collectively, these changes allow the company to better serve an expanded customer base with more local sourcing, production and service via a deeper pool of engineering and technological expertise, Allison says.