Dana Corporation (NYSE: DCN
– news) and Motorola Inc. (NYSE: MOT – news) announced today that they are forming
a strategic alliance between Dana and Motorola’s Automotive and Industrial Electronics
Group (AIEG). The purpose of the alliance is to advance technological applications
and interfaces for new automotive components, modules and systems.
Through this alliance, Dana
and Motorola will join forces to provide integrated automotive systems solutions.
Motorola, a leader in the development of electronic components and integrated
electronic system design and manufacturing will provide Dana with access to
advanced electronics technology. In return, Dana will incorporate this exciting
new technology within its advanced chassis, drivetrain and engine systems, and
leverage its expertise and infrastructure to take the new products to market.
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“This alliance will help
us achieve one of our core objectives — to expand our technical capability
in a capital efficient manner to enhance our competitive advantage in our chosen
markets,” said Joe Magliochetti, Dana’s chairman and CEO. “Central to this
focus is an emphasis on those technologies that go beyond today’s demands and
drive future markets. We believe that Motorola is the perfect partner for Dana
in this regard.”
“This alliance is part
of our long-term strategy to integrate electrical and electronic components
to develop advanced technology for our traditionally mechanical components.
We are actively pursuing these types of opportunities to add to our “intelligent”
product offerings and to provide our automotive customers with value-added benefits,”
said Chuck Heine, president of Dana’s Engine Systems Group.
“This alliance is a perfect
example of Motorola’s strategy to incorporate our DigitalDNA technology to make
‘smart products’ with our partners,” said Dave Melka, senior vice president
and general manager of Motorola’s Automotive and Industrial Electronics Group
(AIEG). “Combining Motorola’s technology and expertise in automotive electronics
with Dana’s capabilities in mechanical applications creates a powerful team
to better serve automotive customers worldwide.”
About Dana Corporation
Dana Corporation is one
of the world’s largest suppliers to vehicle manufacturers and the aftermarket.
Founded in 1904 and based in Toledo, Ohio, the company operates some 320 major
facilities in 32 countries and employs more than 82,000 people. The company
reported sales of $13.2 billion in 1999. Dana’s Internet address is www.dana.com
.
Motorola IESS
The Integrated Electronic
Systems Sector (IESS) is part of Motorola, Inc. (NYSE: MOT – news). IESS is
a leading provider of advanced electronic products and systems for customers
integrating electronics into their products. Motorola’s Automotive and Industrial
Electronics Group (AIEG) researches, develops and manufactures electronics and
electronic systems for automotive original equipment manufacturers and all tiers
of automotive system suppliers and industrial customers worldwide. Motorola
IESS solutions provide the brains — the DigitalDNA(TM) — that make electronic
systems smart, powerful and easy to use.
Motorola, Inc. (NYSE: MOT
– news) is a global leader in providing integrated communications solutions
and embedded electronic solutions. Sales in 1999 were $33.1 billion.
