DANA acquired Clark-Hurth Components (Ingersoll-Rand), a transaction announced in December 1996, structured as Acquisition of the global assets of Clark-Hurth Components from Ingersoll-Rand, accounted for as a purchase; the operations were combined with Dana's Spicer Off-Highway divisions to form the Off-Highway Components Group. Completed in February 1997..
Clark-Hurth Components (Ingersoll-Rand) operates in Off-Highway Components (axles, brakes, transaxles and powershift transmissions), is based in Belgium, Italy and the United States (North Carolina). Clark-Hurth Components was a worldwide manufacturer of off-highway vehicle and equipment driveline components, producing axles, brakes, transaxles and powershift transmissions used in agriculture, construction, forestry, mining and material handling. Dana acquired the global business from Ingersoll-Rand Company and combined it with its Spicer Off-Highway divisions to form a new Off-Highway Components Group. Clark-Hurth had 1995 sales of approximately $350 million, with roughly two-thirds outside the United States and plants in Belgium (Brugge), Italy (Arco, Valsugana and Rovereto) and Statesville, North Carolina.
Make Dana a leading global supplier of off-highway drivetrain components and systems, strengthen its presence in Europe, add customers, products and technologies, and enable Dana to offer modular systems to off-highway equipment manufacturers.
This acquisition will make Dana a leading supplier of off-highway drivetrain components and systems.Southwood J. Morcott, Chairman, Dana Corporation
Advisory firms were not disclosed for this transaction.