Dana Corporation and Bendix Commercial Vehicle Systems LLC, a member of the Knorr-Bremse Group, have announced plans to form a joint venture
focused on commercial vehicle foundation brake components and technologies. The joint venture, which is expected to close on June 30, 2004, will operate under the name Bendix Spicer Foundation Brake LLC.
The companies noted that the move combines and expands complementing technologies throughout North America, integrating the braking systems expertise of Bendix and Knorr Bremse with the axle and brake integration capability of Dana. The Bendix Spicer wheel-end brake product range will include S-Cam and air disc brakes, slack adjusters and actuators, as well as a full array of related aftermarket parts for medium- and heavy-duty commercial vehicles. Roadranger Marketing, which has represented Dana and Eaton commercial vehicle drivetrain products and systems since 1998, will continue to represent foundation brake products for the new venture.
"Joint ventures support Dana’s drive to deliver the best performing technologies to our customers," said Dana Chairman and CEO Michael J. Burns. "We’re pleased to combine strengths with the Knorr Bremse Group to strengthen our product offering to our commercial vehicle customers."
Nick Cole, president of Dana’s Heavy Vehicle Technologies and Systems Group, added, "We strongly support this initiative knowing that both companies will contribute product, technology, and distribution leadership to support our customers with innovative systems solutions that will add true value for commercial-vehicle owners."
Completion of the transaction is subject to final corporate approvals at both companies.