Dana Incorporated

Dana Incorporated is an American supplier of axles, driveshafts, transmissions, and electrodynamic, thermal, sealing, and digital equipment for conventional, hybrid, and electric-powered vehicles. The company's products and services are aimed at the light vehicle, commercial vehicle, and off-highway equipment markets. Founded in 1904 and based in Maumee, Ohio, the company employs nearly 36,000 people in 33 countries. In 2019, Dana generated sales of $8.6 billion. The company is included in the Fortune 500.[2]

Dana Incorporated
TypePublic
NYSE: DAN
S&P 400 Component
ISINUS2358252052
IndustryAutomotive industry
Founded1904 (1904)
FoundersClarence W. Spicer
Charles A. Dana
Joseph Victor
Hugo Reinz
J.B. Long
Headquarters
Maumee, Ohio
,
U.S.
Area served
Worldwide
Key people
James K. Kamsickas (Chairman & CEO)
ProductsAxles, driveshafts, sealing and thermal products for automotive, commercial vehicle, and off-highway vehicle manufacturers
Revenue US$ 8.6 billion (FY 2019)
US$ 637.0 million (FY 2019)
US$ 226.0 million (FY 2019)
Total assets US$ 7.2 billion (FY 2019)
Number of employees
36,000 (2019)
Websitewww.dana.com
Footnotes / references
[1]

History
Dana corporate headquarters, Maumee, OH
  • In 1904, Clarence W. Spicer, engineer, inventor, and founder of the company, began manufacturing universal joints in Plainfield, New Jersey.
  • Also in 1904, the first C.W. Spicer "u-joints" were shipped to Corbin Motor Company in Connecticut.
  • In 1905, Spicer Universal Joint Manufacturing Company was incorporated.[3]
  • In 1909, the company changed its name to Spicer Manufacturing Company.
  • In 1910, Spicer relocated to South Plainfield, New Jersey.[3]
  • In 1914, Charles Dana joined the company.
  • In 1922, Spicer was listed on the New York Stock Exchange.
  • In 1925, Spicer expanded internationally taking a holding in licensee in England, Hardy, renamed Hardy Spicer.
  • In 1946, Dana became president and treasurer, and the company was renamed the Dana Corporation. Spicer becomes the brand name for the company's driveline products.[4]
  • In 1972, Dana bought a 35% stake in Wolverhampton-based engineering company, Turner Manufacturing. The remaining shares were acquired a few years later.
  • In 2006, Dana filed for bankruptcy.[5]
  • In 2007, Dana canceled 150 million shares of stock during their bankruptcy.[6]
  • In 2018, Dana announced that it was buying a majority stake in TM4 Inc.,[7] a company specialized in electric powertrains, for C$165 million (US$127 million).
  • In 2019, Dana acquired privately held SME Group (Italy).[8]
  • In March 2019, Dana purchased Drive Systems segment of the Oerlikon Group, including the Graziano Trasmissioni and Fairfield brands and VOCIS, a wholly owned electronic controls business located in the UK.[9]
  • In August 2019, Dana acquired Nordresa Motors, Inc.[10]
  • In 2020, Dana started using 3D printers at its Advanced Manufacturing Center in Maumee, Ohio to manufacture face shield components for use during the coronavirus pandemic.[11]

Products

Key products include axles, drive shafts, universal joints and sealing and thermal-management products.

Axles

Suspension

References
  1. "Dana Incorporated (DAN)". Yahoo! Finance. Retrieved 29 July 2020.
  2. "Dana Incorporated (DAN) Company Profile, News, Rankings". Fortune. Retrieved 20 December 2018.
  3. Raber, Michael S. "Spicer Manufacturing Company" (PDF). Historic American Engineering Record. Archived from the original (PDF) on 6 January 2014.
  4. "Cape Chamber honors company at industrial dinner". Southeast Missourian. 8 October 1993.
  5. Peters, Jeremy W. (3 March 2006). "Auto Supplier Dana Files for Bankruptcy Protection". The New York Times. Retrieved 6 October 2013.
  6. Pakulski, Gary T. (5 September 2007). "Dana plans to cancel 150m shares of old stock: Investors get nothing following Chapter 11". Toledo Blade. Archived from the original on 2 February 2011. Retrieved 2 October 2010.
  7. Henry, Jim (22 June 2018). "Dana buying majority stake in Canada's TM4 in effort to expand reach". Retrieved 29 July 2020.
  8. "Dana Acquires SME Group, Enhances Electromobility Capabilities and Global Reach". www.dana.com. 15 January 2019. Retrieved 29 July 2020.
  9. "Dana Completes Purchase of Drive Systems Segment of Oerlikon Group". www.dana.com. 1 March 2019. Retrieved 29 July 2020.
  10. "Dana Acquires Nordresa, Industry-leading e-Powertrain Integrator". www.dana.com. 26 August 2019. Retrieved 29 July 2020.
  11. "OEMs retool to produce PPE". FleetOwner. 8 April 2020. Retrieved 2 May 2020.
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