Dana buys interest in German manufacturer Getrag

<%=company1%> (Toledo, OH) is buying a stake in Getrag (Ludwigsburg, Germany), a transmission, transaxle, and axle manufacturer. "This relationship will support our global growth strategy for the passenger car market, and enhance our focus on advanced automotive technologies," says Dana CEO Joe Magliochetti. Dana acquired a 30% interest in Getrag Cie, the parent company of the Getrag group, and a 49% stake in Getrag's North American operations. Financial terms of the agreement weren't announced.

Strategically, the transaction is similar to the firm's recent collaboration with GKN to produce advanced driveline technologies, adds Dana Automotive President Bill Carroll. "Getrag's transaxle and gear manufacturing technologies will enable us to further develop our under-the-vehicle technology, products, and systems," he says. Meantime, Dana and Getrag are establishing a joint technology council to explore ways to further advance automotive applications for design and technology.

Edited by Norman Martin
Managing Editor, AutoCentral.com