Dana Incorporated purchased the Drive Systems segment of the Oerlikon Group for CHF 600m.

Dana Incorporated announced that it has signed a definitive agreement to purchase the Drive Systems segment of the Oerlikon Group, a global manufacturer of high-precision gears; planetary hub drives for wheeled and tracked vehicles; and products, controls, and software that support vehicle electrification across the mobility industry. Committed financing has been arranged to complete the transaction, which will be immediately accretive to earnings upon closing. Subject to customary regulatory approvals, the acquisition is expected to close in late 2018 or the first quarter of 2019.