DANA acquired Sealed Power Division of SPX Corporation, structured as Acquisition of the piston ring and cylinder liner operations from SPX Corporation, accounted for as a purchase. Completed in February 1997..
Sealed Power Division of SPX Corporation operates in Engine Products (piston rings and cylinder liners), is based in United States, with European operations (Sealed Power Europe). Dana acquired the worldwide piston ring and cylinder liner operations of SPX Corporation, known as the Sealed Power Division. The business manufactures and sells piston rings and cylinder liners primarily for internal combustion engines, and the acquisition expanded Dana's engine-products offering under its Perfect Circle and Sealed Power brands. The deal closed in February 1997, the same month Dana completed its Clark-Hurth acquisition.
Expand Dana's engine-components business and its portfolio of internal-combustion-engine parts, complementing existing Perfect Circle and Sealed Power product lines.
Advisory firms were not disclosed for this transaction.