Dana Incorporated has acquired Italy’s SME Group
Vehicle transmission and component company Dana Incorporated in the USA has completed the acquisition of Italian electric motor manufacturer SME Group.
Headquartered in Arzignano, SME designs and builds low-voltage AC induction and synchronous motors, inverters, and controls for off-highway vehicles, including material handling, construction and agricultural equipment.
SME will strengthen Dana’s capability as vehicle and machinery electrification gathers pace. “Dana’s acquisition of SME enhances our ability to address the electrification and hybridisation needs of our customers, while also increasing the potential for incremental content per vehicle,” said Jim Kamsickas, Dana president and chief executive officer.
“SME’s exceptional electric motor and inverter products, which largely support off-highway applications, are highly complementary to the technologies we acquired with TM4 [electric powertrain designer and manufacturer from Canada], which are predominately focused on light- and commercial-vehicle applications,” Kamsickas continued.
Christophe Dominiak, Dana chief technology officer, said, “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.”
The acquisition will extend its capabilities to applications up to 250 kW. The privately held SME Group employs more than 100 people. In addition to Italy it operates in China, Germany and Canada.
- · Dana said its electrification capabilities will also be further strengthened by the anticipated acquisition of the Switzerland-based Oerlikon Group’s drive systems segment. This was announced in July 2018 for a value of CHF 600 million (US$607 million). Dana expects the transaction to close in the first quarter of 2019.