MAUMEE, Ohio—Dana Inc. has completed its acquisition of the SME Group, a manufacturer of goods for electric vehicle products headquartered in Arzignano, Italy.
The details of the acquisition, which significantly expands Dana's electrified product portfolio, were not disclosed, according to a Dana news release.
SME Group, which was privately held, employs more than 100 people and operates in China, Germany, Canada and Italy. The group provides low-voltage AC induction and synchronous reluctance motors, inverters and controls for off-highway electric vehicle applications, including material handling, agriculture, construction and automated-guided vehicles.
The acquisition enhances Dana's ability to address electrification and hybridization needs of customers, while increasing the potential for incremental content per vehicle, said Jim Kamsickas, Dana president and CEO. SME's electric motor and inverter products, aimed at off-highway applications, are complementary to technologies Dana acquired with TM4, which focus on light and commercial-vehicle applications, he added.
SME's low-voltage induction motors round out Dana's offering of high-voltage permanent magnet motors for a wider range of electrified solutions, said Christophe Dominiak, chief technology officer for Dana.
With SME, the company's range of electrified capabilities cover applications up to 250kW, Dana said.
Dana also said the acquisition of the Drive Systems segment of the Oerlikon group is set to close in the first quarter of 2019. That acquisition will strengthen Dana's electrification capabilities with products for use on a range of hybrid and electric-vehicle configurations.
Dana employs about 30,000 people across 33 countries, and reported sales of more than $7.2 billion in 2017.