Allison Transmission has purchased Dana’s off-highway business for about US$2.7 billion.
Allison says the acquisition aligns with its strategic priorities to expand emerging markets, enhance core technologies and improve financial performance.
“This acquisition marks a transformative milestone in our commitment to empowering our current and future customers with propulsion and drivetrain solutions that improve the way the world works,” said David Graziosi, Allison Transmission chairman and CEO. “We look forward to harnessing this momentum to increase value for all of our stakeholders worldwide.”
Dana’s off-highway business serves the construction, forestry, agricultural, specialty, aftermarket, industrial and mining segments. “Dana’s off-highway business has long been committed to delivering innovative solutions for off-highway applications, and we are confident that under Allison’s ownership, the team will be well-positioned to continue that legacy,” said R. Bruce McDonald, Dana chairman and CEO, in the release. “This agreement represents a strategic opportunity to ensure the ongoing success of the business, while allowing Dana to focus on our core priorities. We look forward to seeing the off-highway business thrive under Allison’s leadership.”
