Dana Incorporated (NYSE: DAN) has announced a definitive agreement to purchase axle housing and driveline shaft manufacturing operations from U.S. Manufacturing Corporation (USM).

Under terms of the agreement, Dana plans to acquire USM's Warren, Michigan, assets in exchange for $100 million in cash.  This acquisition will increase Dana's revenue from passenger and commercial vehicle manufacturers and will transition significant purchased content to vertically integrated supply.  It will also provide Dana with new product and process technologies for lightweighting.

"The acquisition of USM's Warren operation allows us to capitalize on an important opportunity that will strengthen the supply chain for several of Dana's most strategic customers and programs," said Jim Kamsickas, Dana president and CEO. 

"The transaction also includes process technologies that augment Dana's existing portfolio of lightweighting innovations, which assist our customers in achieving their sustainability and fuel efficiency goals."

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