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Dana Incorporated

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Dana Incorporated
Company typePublic
NYSE: DAN
S&P 600 Component
ISINUS2358252052
IndustryAutomotive industry
Founded1904; 120 years ago (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
RevenueIncrease US$ 10.2 billion (FY 2022)
Increase US$ 763 million (FY 2022)
Decrease US$ -242 million (FY 2022)
Total assetsIncrease US$ 7.4 billion (FY 2022)
Number of employees
41,800 (2022)
Websitewww.dana.com
Footnotes / references
[1]

Dana Incorporated is an American supplier of axles, driveshafts, 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]

History

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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 1963, Dana acquired the Perfect Circle Company.[5]
  • In 1972, Dana bought a 35% stake in Wolverhampton-based engineering company, Turner Manufacturing.[6] The remaining shares were acquired a few years later.
  • In 2006, Dana filed for bankruptcy.[7]
  • In 2007, Dana canceled 150 million shares of stock during their bankruptcy.[8]
  • In 2018, Dana announced that it was buying a majority stake in TM4 Inc.,[9] a company specialized in electric powertrains, for C$165 million (US$127 million).
  • In 2019, Dana acquired privately held SME Group (Italy).[10]
  • 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.[11]
  • In August 2019, Dana acquired Nordresa Motors, Inc.[12]
  • 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.[13]
  • In March 2021, Dana acquired Pi Innovo from Plymouth, Michigan.[14]

Products

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

Axles

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Suspension

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References

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  1. ^ "Dana Incorporated (DAN)". Yahoo! Finance. Retrieved 29 July 2020.
  2. ^ "Dana Incorporated (DAN) Company Profile, News, Rankings". Fortune. Retrieved 20 December 2018.
  3. ^ a b 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. ^ "History". hagerstown.in.gov. Retrieved 2021-05-02.
  6. ^ Turner Manufacturing Company Limited
  7. ^ Peters, Jeremy W. (3 March 2006). "Auto Supplier Dana Files for Bankruptcy Protection". The New York Times. Retrieved 6 October 2013.
  8. ^ 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.
  9. ^ Henry, Jim (22 June 2018). "Dana buying majority stake in Canada's TM4 in effort to expand reach". Retrieved 29 July 2020.
  10. ^ "Dana Acquires SME Group, Enhances Electromobility Capabilities and Global Reach". www.dana.com. 15 January 2019. Retrieved 29 July 2020.
  11. ^ "Dana Completes Purchase of Drive Systems Segment of Oerlikon Group". www.dana.com. 1 March 2019. Retrieved 29 July 2020.
  12. ^ "Dana Acquires Nordresa, Industry-leading e-Powertrain Integrator". www.dana.com. 26 August 2019. Retrieved 29 July 2020.
  13. ^ "OEMs retool to produce PPE". FleetOwner. 8 April 2020. Retrieved 2 May 2020.
  14. ^ "Dana Acquires Pi Innovo LLC, Further Enhancing e-Propulsion Software, Controls, and Electronics Capabilities". www.dana.com. 1 March 2021. Retrieved 11 October 2021.
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