Dana Corporation Announces Wheel-End Braking System Joint Venture With Bendix
22 Giugno 2004 - 3:30PM
PR Newswire (US)
Dana Corporation Announces Wheel-End Braking System Joint Venture
With Bendix Complementing Technologies Expand Offerings in North
America TOLEDO, Ohio, June 22 /PRNewswire-FirstCall/ -- Dana
Corporation (NYSE:DCN) announced today that it has formed a North
American joint venture with Bendix Commercial Vehicle Systems LLC,
a member of the Knorr-Bremse Group, focused on commercial vehicle
foundation brake components and technologies. The joint venture,
which is expected to close on June 30, 2004, will operate under the
name Bendix Spicer Foundation Brake LLC. (Logo:
http://www.newscom.com/cgi-bin/prnh/19990903/DANA ) The move
combines and expands complementing technologies throughout North
America, making available a comprehensive range of wheel-end brake
products, including S-Cam and air disc brakes, slack adjusters and
actuators, as well as a full array of related aftermarket parts for
medium- and heavy-duty commercial vehicles. It integrates the
braking systems expertise from Bendix and the Knorr Bremse Group,
with the axle and brake integration capability of Dana, for a
powerful long-term partnership between the organizations. "Joint
ventures support Dana's drive to deliver the best performing
technologies to our customers," said Dana Chairman and CEO Michael
J. Burns. "We're pleased to combine strengths with the Knorr Bremse
Group to strengthen our product offering to our commercial vehicle
customers." Nick Cole, president of Dana's Heavy Vehicle
Technologies and Systems Group, added, "We strongly support this
initiative knowing that both companies will contribute product,
technology, and distribution leadership to support our customers
with innovative systems solutions that will add true value for
commercial-vehicle owners." Heinz Hermann Thiele, chairman of
Knorr-Bremse AG, remarked, "We believe this business has a strong
future. The combination of Bendix and Dana foundation brake
solutions represents a dynamic force in the commercial- vehicle
industry, with an increased capacity to serve the needs of our
customers." "The launch of this joint venture is further evidence
of our continued commitment to provide our North American customers
a full range of innovative commercial vehicle braking system
solutions," said Joe McAleese, president and CEO of Bendix. The
joint venture integrates the dedicated foundation brake business
units of both Bendix and Dana. Completion of the transaction is
subject to final corporate approvals at both companies. Dana
Corporation is a global leader in the design, engineering, and
manufacturing of value-added products and systems for automotive,
commercial, and off-highway vehicles. The company's continuing
operations employ approximately 45,000 people worldwide dedicated
to advancing the science of mobility. Founded in 1904 and based in
Toledo, Ohio, Dana operates technology, manufacturing, and
customer-service facilities in 30 countries. Sales from continuing
operations totaled $7.9 billion in 2003. Dana's Internet address is
http://www.dana.com/ . Bendix Commercial Vehicle Systems LLC, a
member of the Knorr-Bremse Group, supplies air brake charging and
control system and components, vehicle modules, and leading-edge
safety technologies under the Bendix(R) brand name for medium- and
heavy-duty trucks, tractors, trailers, buses, and other commercial
vehicles in North America, Europe, and Australia. Employing more
than 1,800 people, Bendix is headquartered in Elyria, Ohio, with
manufacturing plants in Acuna, Mexico; Frankfort, Ky.; and
Huntington, Ind. For more information, call 800-AIR-BRAKE
(800-247-2725) or visit http://www.bendix.com/ .
http://www.newscom.com/cgi-bin/prnh/19990903/DANA
http://photoarchive.ap.org/ DATASOURCE: Dana Corporation CONTACT:
Gary Corrigan of Dana Corporation, +1-419-535-4813, or ; or Barbara
Gould of Bendix Commercial Vehicle Systems, +1-440-329-9609, or Web
site: http://www.dana.com/ http://www.bendix.com/ Company News
On-Call: http://www.prnewswire.com/comp/226839.html
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