Bendix Acquires Dana Share Of Brake Joint Venture
By Mike Brezonick01 October 2020
Bendix Commercial Vehicle Systems LLC , a subsidiary of Knorr-Bremse, a supplier of braking and other systems for rail and commercial vehicle applications, announced it has acquired full ownership of Bendix Spicer Foundation Brake LLC (BSFB), the joint venture it formed in 2004 with Dana Inc. No financial details were provided.
Dana had previously held a 20% stake in the joint venture. Bendix will immediately incorporate the wheel-end business as one of its five Centers of Competency (CoC) and change the name to Bendix Commercial Vehicle Systems LLC effective Jan. 1, 2021.
The joint venture, established in mid-2004, combined the air disc brake, slack adjuster and actuator business units from Bendix with the foundation drum brake business from Dana. Both companies contributed product and technology, as well as manufacturing and distribution.
The Bendix wheel-end CoC will remain based in Elyria, and will continue operating its R&D Center in Kalamazoo, Mich., as well as the newly expanded wheel-end manufacturing plant in Bowling Green, Ky.
“This change is a natural next step in our business growth in North America and around the globe,” said Dr. Peter Laier, member of the executive board of Knorr-Bremse AG responsible for the Commercial Vehicle Systems division. “It comes as Knorr-Bremse and our North American-associated company, Bendix, continue to pursue our strategic agenda to further strengthen our position as global market leader in the commercial vehicle wheel-end brake business.
“Knorr-Bremse and Bendix are uniquely qualified to carry the wheel-end business forward as a part of our focus on enhanced traffic safety on the roads in North America and around the world.”
Mike Hawthorne, president and CEO of Bendix, added, “Bendix and Dana have enjoyed a strong and vibrant partnership as we have successfully guided the strategic path of the joint venture for the past 16 years. Now we look forward to continuing that relationship as we undertake other joint projects and initiatives.”
“Bendix has been a longstanding and outstanding partner in our brake joint venture, and we look forward to continued technical collaboration with them as we support the needs of our mutual customers,” said Ryan Laskey, senior vice president of Dana Commercial Vehicle Drive and Motion Systems.