DANA acquired Glacier Vandervell Bearings Group and AE Clevite aftermarket engine hard parts (Federal-Mogul), structured as Acquisition of the Glacier Vandervell Bearings Group and the AE Clevite North American aftermarket engine hard parts business from Federal-Mogul Corporation. Completed in December 1998..
Glacier Vandervell Bearings Group and AE Clevite aftermarket engine hard parts (Federal-Mogul) operates in Engine Products / Automotive Aftermarket (engine bearings and hard parts), is based in North America, with Glacier and Vandervell bearings operations. Dana acquired the Glacier Vandervell Bearings Group and the AE Clevite North American aftermarket engine hard parts business from Federal-Mogul Corporation. The transaction added engine bearings under the Glacier and Vandervell brands and aftermarket engine hard parts under the Clevite brand, strengthening Dana's engine-products and automotive-aftermarket operations. It was one of a series of moves in 1998 through which Dana completed acquisitions of operations with combined annualized sales of more than $5.3 billion.
Broaden Dana's engine bearings and aftermarket engine hard parts capabilities under the Glacier, Vandervell and Clevite brands, reinforcing the engine-products portfolio expanded through the Echlin combination.
Advisory firms were not disclosed for this transaction.