Dana Holding Corporation, Bosch Rexroth AG Announce Plans for Joint Venture to Engineer, Produce Off-Highway Transmissions
Monday, April 19th, 2010
Dana Holding Corporation (NYSE: DAN) and Bosch Rexroth AG announce that they expect to form a 50-50 joint venture to co-develop and manufacture advanced drive transmissions for the off-highway market. A memorandum of understanding to this effect was signed by the two companies.
The planned joint-venture company, which is expected to operate in Arco, Italy, will engineer, manufacture, and market hydro-mechanical variable powersplit transmission systems (HVT) for the global off-highway markets. The advanced transmission systems will be focused on meeting customer needs for improved fuel economy, productivity, emissions, and maneuverability. Dana and Bosch Rexroth will contribute staff, intellectual property, and capital to the new joint-venture company.
“We are excited about the opportunities that this combination of two respected global off-highway transmission manufacturers presents,” said Dana Chief Technical Officer George Constand. “Together, Dana and Bosch Rexroth offer a broad range of complementary skill sets, which will enable the joint venture to deliver a unique array of advanced transmission solutions to the off-highway marketplace.”
The planned joint venture will benefit from Dana’s expertise in off-highway transmission engineering and manufacturing, and Bosch Rexroth’s deep experience in hydraulics and systems.
“The smart interaction of hydraulics and mechanics will be the driving factor for future innovation in drive transmissions,” said Bosch Rexroth Executive Vice President of Engineering and Manufacturing Reiner Leipold-Buettner. “Only those with the best know-how in both fields will master the growing market demands. Dana and Bosch Rexroth ideally combine both fields.”
Dana and Bosch Rexroth are currently engaged in a joint project to develop power split transmissions for construction machines.