Dana Incorporated Explained

Dana Incorporated
Type:	Public
Traded As:	S&P 600 Component
Industry:	Automotive industry
Founders:	Clarence W. Spicer Charles A. Dana Joseph Victor Hugo Reinz J.B. Long
Location City:	Maumee, Ohio
Location Country:	U.S.
Area Served:	Worldwide
Key People:	James K. Kamsickas (Chairman & CEO)
Products:	Axles, driveshafts, sealing and thermal products for automotive, commercial vehicle, and off-highway vehicle manufacturers
Revenue:	US$ 10.2 billion (FY 2022)
Operating Income:	US$ 763 million (FY 2022)
Net Income:	US$ -242 million (FY 2022)
Assets:	US$ 7.4 billion (FY 2022)
Num Employees:	41,800
Num Employees Year:	2022
Footnotes:	^[1]

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]

History

• 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.
• 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

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

Axles

• Dana 25
• Dana 27
• Dana 30
• Dana 35
• Dana 44
• Dana 50
• Dana 53
• Dana 60
• Dana 70
• Dana 80
• Dana S 110

Suspension

• Twin Traction Beam

Notes and References

1. Web site: Dana Incorporated (DAN). Yahoo! Finance. 29 July 2020.
2. Web site: Dana Incorporated (DAN) Company Profile, News, Rankings. Fortune. 20 December 2018.
3. Web site: Spicer Manufacturing Company. Historic American Engineering Record. Raber. Michael S.. dead. https://web.archive.org/web/20140106034308/http://lcweb2.loc.gov/pnp/habshaer/nj/nj1800/nj1809/data/nj1809data.pdf. 6 January 2014.
4. News: Southeast Missourian. Cape Chamber honors company at industrial dinner. 8 October 1993.
5. Web site: History . hagerstown.in.gov . 2021-05-02.
6. http://turnermanufacturing.org.uk/ Turner Manufacturing Company Limited
7. News: Peters. Jeremy W.. Auto Supplier Dana Files for Bankruptcy Protection. The New York Times. 3 March 2006. 6 October 2013.
8. Web site: Pakulski. Gary T.. Dana plans to cancel 150m shares of old stock: Investors get nothing following Chapter 11. Toledo Blade. 5 September 2007. 2 October 2010. dead. https://web.archive.org/web/20110202191516/http://www.toledoblade.com/article/20070905/BUSINESS03/709050400. 2 February 2011.
9. News: Dana buying majority stake in Canada's TM4 in effort to expand reach. Henry. Jim. 22 June 2018. 29 July 2020.
10. Web site: Dana Acquires SME Group, Enhances Electromobility Capabilities and Global Reach. 15 January 2019. www.dana.com. 29 July 2020.
11. Web site: Dana Completes Purchase of Drive Systems Segment of Oerlikon Group. 1 March 2019. www.dana.com. 29 July 2020.
12. Web site: Dana Acquires Nordresa, Industry-leading e-Powertrain Integrator. 26 August 2019. www.dana.com. 29 July 2020.
13. Web site: OEMs retool to produce PPE. FleetOwner. 8 April 2020. 2 May 2020.
14. Web site: Dana Acquires Pi Innovo LLC, Further Enhancing e-Propulsion Software, Controls, and Electronics Capabilities. 1 March 2021. www.dana.com. 11 October 2021.