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Dana agrees to acquire Oerlikon unit for $600 million

Dana has reached an agreement to acquire Oerlikon’s drive systems business in a transaction valued at 600 million Swiss francs ($600 million), Dana said Monday in a statement.

Oerlikon Drive Systems supplies high-precision gears and planetary hub drives for wheeled and tracked vehicles. The business, which generated $730 million in revenue in 2017, comprises two brands: Oerlikon Graziano of Italy and Oerlikon Fairfield of Lafayette, Indiana.

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