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Dana Incorporated records significant quarterly growth

Drivetrain supplier Dana Incorporated has recorded 12 per cent growth in its sales for the second quarter of 2018.

Sales revenue resulted in $AU2.8 billion, an increase of $AU287 million over the previous quarter in 2017.

Favourable foreign currency translation, in addition to conversion of sales backlog and higher end market demand, were acknowledged as key factors in Dana’s strong Q2. 

So too were strategic acquisitions noted the company in a statement.

Moving forward the company was focused on inorganic growth opportunities according to James Kamsickas, Dana President and CEO. He said the recent acquisition of electric motor and power inverter manufacturer TM4 had positively impacted the business.

“This transaction is a game changer, as it positions Dana as the only full e-Propulsion design, engineering and manufacturing systems supplier,” he said.

“TM4’s core technologies of electric motors, power inverters and controls are applicable to all mobility markets that we serve and are a vital part of Dana’s broader enterprise strategy going forward.”

Dana also announced that its Spicer single drive axles would be supplied as standard equipment to Navistar across its International MV Series medium-duty trucks and IC Bus CE Series and RE Series models.

“We continue to collaborate with Navistar to provide innovative solutions to meet rigorous efficiency benchmarks and improve total cost of ownership,” said Mark Wallace, Executive Vice President of Dana.

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