Dana has completed the acquisition of SME Group, headquartered in Arzignano, Italy.
The global SME Group designs, engineers, and manufactures low-voltage AC induction and synchronous reluctance motors, inverters and controls for a range of off-highway electric vehicle applications, including material handling, agriculture, construction and automated-guided vehicles.
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The addition of SME’s low-voltage motors and inverters, which are primarily designed to meet the evolution of electrification in off-highway equipment, significantly expands Dana’s electrified product portfolio.
“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 Dana president and CEO, Jim Kamsickas.
“SME’s electric motor and inverter products, which largely support off-highway applications, are complementary to the technologies we acquired with TM4, which are predominately focused on light- and commercial-vehicle applications.”
Dana’s existing portfolio of Spicer Electrified with TM4 motors and inverters combined with SME’s low-voltage motors will expand the company’s capabilities to applications ranging up to 250kW.
The privately held SME Group employs more than 100 people and operates in China, Germany, Canada, and Italy.
Dana’s electrification capabilities will be further strengthened by the anticipated acquisition of the Drive Systems segment of the Oerlikon group, enabling Dana to provide products for a broad range of hybrid and electric-vehicle configurations.
The transaction is expected to close in the first quarter of 2019.
