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Dana Incorporated reports news on its vehicle propulsion and powertrain businesses for light- and commercial-vehicle markets. The company designs and manufactures drive systems, electrodynamic technologies, thermal-management products, and sealing solutions for vehicle manufacturers and related aftermarkets.
Recurring updates for Dana Incorporated include financial results, cost-savings actions, new business wins, capital allocation through dividends and share repurchases, debt reduction, and portfolio changes following the completed sale of the Off-Highway business. Company communications also cover the Dana 2030 strategic plan, margin and cash-flow targets, governance matters, and leadership-transition disclosures.
Dana Incorporated (NYSE: DAN) has announced the launch of the Brevini™ S-Series industrial planetary gearboxes designed for biogas production and wastewater treatment facilities. These gearboxes offer maximum output torques up to 290 kNm and are customized for effective heat transfer in digesters. With a proven track record in Europe and Asia-Pacific, they are engineered to withstand harsh environments, featuring corrosion-resistant seals. This initiative supports Dana's commitment to sustainability, contributing to renewable energy advancements, particularly in China, where biogas production is expected to increase significantly over the next decade.
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Dana Incorporated (NYSE: DAN) has launched three new planetary drives with output torque ratings from 80 kNm to 130 kNm, aimed at enhancing support for tracked and wheeled vehicles, as well as winch applications. These drives can be integrated with Brevini hydraulic motors or Dana TM4 electric motors, addressing the rising torque demands in mobile and industrial sectors. The updated designs offer improved performance, efficiency, and flexibility, accommodating input speeds up to 5,000 rpm, and fulfilling stringent safety standards for marine applications. For details, visit dana.com.
Dana Incorporated (NYSE: DAN) has appointed Brett Icahn and Gary Hu from Icahn Capital to its Board of Directors, effective immediately. This collaboration aims to enhance shareholder engagement and improve corporate governance. Icahn Capital, holding approximately 9.9% of Dana's stock, has agreed to support the slate of director nominees for the upcoming 2022 Annual Meeting of Shareholders. CEO James Kamsickas highlighted the company's advancements in mobilization and electrification, while Carl Icahn acknowledged the management's progress despite current operational challenges.
Dana Incorporated (NYSE: DAN) has appointed Ernesto M. Hernández to its board of directors, effective immediately. Hernández, a former president of General Motors Mexico, brings extensive experience in mobility and product engineering. James Kamsickas, Dana's CEO, expressed confidence that Hernández's background in advanced technologies will aid the company's growth in alternative vehicle propulsion. Additionally, Raymond E. Mabus, Jr. will retire from the board at the 2022 Annual Meeting of Shareholders. Dana reported $7.1 billion in sales in 2020, emphasizing sustainability and social responsibility.
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Dana Incorporated (NYSE: DAN) has appointed Timothy R. Kraus as its new senior vice president and chief financial officer, succeeding Jonathan Collins, who will join Clarivate plc (NYSE: CLVT). Kraus, a Dana veteran with over a decade at the company, previously served as senior vice president of finance and treasurer, overseeing global treasury operations and strategic acquisitions. CEO James Kamsickas acknowledged Kraus's crucial role in Dana's transformation strategy, enhancing innovation and balance sheet strength. Collins will assist in the transition until December 15, 2021.
Clarivate (NYSE: CLVT) announced a leadership change with the departure of CFO Richard Hanks, effective December 16, 2021. His successor, Jonathan Collins, currently CFO of Dana (NYSE: DAN), will take over to drive the company's ongoing growth. Hanks will assist during the transition until April 1. Collins brings extensive experience from Dana and ProQuest, where he held senior financial roles. Clarivate's Executive Chairman praised Hanks for his contributions over the past five years and expressed confidence in Collins' ability to lead the financial strategy moving forward.
Dana Incorporated (NYSE: DAN) will participate in Credit Suisse's 9th Annual Industrials Conference on Dec. 1, 2021, at 12:10 p.m. EST. Jonathan Collins, Executive Vice President and CFO, will engage in a 30-minute fireside chat. Investors can access the webcast via Dana's Investor website before the event.
Headquartered in Maumee, Ohio, Dana generated $7.1 billion in sales in 2020, employing 38,000 people globally. The company focuses on sustainable mobility solutions and has been recognized for its corporate responsibility.
Dana Incorporated (NYSE: DAN) announced a new $50 million manufacturing facility in Åmål, Sweden, dedicated to producing electric motors for the mobility industry. The Swedish government has provided $10.7 million in support for this sustainable operation, which aims to enhance Dana's e-Propulsion capabilities. Scheduled to open in late 2022, the facility will create over 80 jobs and is crucial for meeting growing demand for electrified vehicle solutions. The innovative facility will support a range of vehicles from light to heavy-duty categories, bolstering Dana's competitive position in the European market.