Dana Inc. has completed the acquisition of Nordresa Motors Inc., furthering its ability to deliver electrified powertrain systems to customers.
Dana, a supplier of axles and transmissions, said Nordresa’s engineering expertise will help support its transition to full-electric powertrains, especially when it comes to required changes to the propulsion system, power steering, air conditioning compressors and other accessory systems. Terms of the agreement were undisclosed.
“Nordresa’s experience designing and integrating electric vehicle systems enables Dana to offer our customers a complete system solution, including fully-integrated e-axles, battery and powertrain controls, and thermal management,” said Dana CEO James Kamsickas in a statement. “Each of Dana’s customers are at different points on their electrification journey and our strategy remains focused on supporting them with industry-leading technology and expertise for all vehicle architectures.”
Dana spokesman Jared Bryan told Automotive News on Monday that Nordresa founders Sylvain Castonguay and Marc Daigneault will have leadership positions in Dana’s electrification group, effective immediately.
It is unclear what their positions are. According to the executives’ LinkedIn profiles, Castonguay has been CEO of Nordresa, which is headquartered near Montreal, since July 2015, and Daigneault has been Nordresa’s chief technology officer for nearly four years. As chief technology officer, Daigneault led Nordresa’s engineering team and secured contracts with major automakers and suppliers, his profile noted.
Dana’s acquisition of Nordresa is the latest move in the company’s plan to grow its electrified drivetrain capabilities.
“Dana has made a number of strategic moves in electrification over the last year and a half, including the securing of a controlling interest in motor and inverter manufacturer TM4, the acquisition of the drives business of Oerlikon and the addition of the motors and inverter business of the SME Group,” Bryan said, adding, “We expect the journey toward electrification to take time, so we continue to strongly invest in traditional technologies that improve fuel efficiency in traditional powertrains.”
Bryan said the company will continue to invest in traditional technologies that improve fuel efficiency in traditional powertrains.
“Whether traditional, hybrid, fully electric, or even fuel cell, Dana’s focus remains on delivering value regardless of the power source our customers choose,” Bryan said.
In May, the company’s first-quarter net income dropped to $98 million, compared with $108 million in the first quarter of 2018, primarily because of expenses related to the completion of acquisitions.
Dana, based near Toledo, Ohio, ranks No. 33 on the Automotive News list of the Top 100 global suppliers, with fiscal 2018 sales to automakers of $8.14 billion.