Dana Expands Indian Joint Venture
Dana Holding Corp. said its wholly owned subsidiary has signed an agreement with Victor Reinz India (VRI), the company's joint venture with India-based Jayant Group, to manufacture Dana's heat exchanger technologies for the local market.
The agreement leverages Dana's existing technical knowledge and manufacturing capabilities with Victor Reinz India's customer relationships and physical infrastructure to expand the company's reach and product offerings in India, which will now include engine oil coolers, fuel coolers, transmission oil coolers, and power steering oil coolers.
Victor Reinz India has been producing multi-layer steel cylinder-head gaskets, secondary gaskets, and thermal-acoustical protective shielding in India since 2009.
"The licensing of Dana technology to the joint venture is the next logical step to meet the rising demand for high-quality thermal solutions in India," said Dwayne Matthews, president Dana Power Technologies. "We are building on the success of Dana's gaskets and heat shields to bring additional innovations to the region that deliver both durability and efficiency."
The transaction is subject to customary closing conditions and is expected to be completed within the next two months.