Dana and Allison Celebrate Key Approval for Business Transaction
MAUMEE, Ohio and INDIANAPOLIS – Dana Incorporated (NYSE: DAN) and Allison Transmission Holdings, Inc. (NYSE: ALSN) are thrilled to announce that they have secured all the required regulatory approvals for their upcoming transaction. This is an important development in the planned sale of Dana's Off-Highway business to Allison, moving them closer to a successful closure of the deal.
R. Bruce McDonald, the Chairman and CEO of Dana, expressed his enthusiasm for this critical milestone. He emphasized the strategic significance of this transition for Dana, stating, "This milestone marks a significant step forward in our transformation strategy. Finalizing this transaction with Allison, a company adept at advancing the success of our Off-Highway business, allows us to return $600 million to shareholders this year and positions us for approximately $2 billion in debt reduction next year."
Adding to the momentum, David S. Graziosi, the Chairman and CEO of Allison Transmission, conveyed eagerness to integrate Dana's Off-Highway Drive and Motion Systems team. He noted, "We look forward to welcoming the Off-Highway Drive and Motion Systems team and incorporating their expertise into our organization. This acquisition aligns with our long-term growth strategy and strengthens our position in the global off-highway market."
The transaction's closure is anticipated at or near the year's end, subject to the completion of final customary closing procedures.
About Dana Incorporated
Dana Incorporated is a leader in providing efficient propulsion and energy-management solutions that power vehicles and machines globally. The company focuses on fostering sustainable development through its comprehensive range of conventional and clean-energy solutions, serving nearly every vehicle manufacturer with their drive and motion systems, electrodynamic technologies, and thermal, sealing, and digital solutions.
Headquartered in Maumee, Ohio, Dana reported sales of approximately $7.7 billion with a dedicated workforce of 28,000 spread across 26 countries. With roots tracing back to 1904, Dana has earned many honors, including being recognized as one of the "World's Most Ethical Companies" for 2025 by Ethisphere and as one of "America's Most Responsible Companies 2025" by Newsweek. Dana’s commitment to a high-performance culture emphasizes valuing diversity, fostering innovation, responsible growth, and collaborative success, leading to its recognition as a premier employer worldwide. To learn more, visit dana.com.
About Allison Transmission Holdings, Inc.
Allison Transmission is a prominent innovator in designing and manufacturing propulsion solutions tailored for commercial and defense vehicles, and is the world's largest supplier of fully automatic transmissions for medium and heavy-duty applications. Allison's products find usage in diverse sectors, including on-highway vehicles, buses, motorhomes, and off-highway applications such as energy, mining, construction, and agriculture.
Founded in 1915 and based in Indianapolis, Indiana, Allison has a broad global presence, serving customers in over 150 countries with regional headquarters strategically located in the Netherlands, China, and Brazil. Their manufacturing capabilities extend across facilities located in the USA, Hungary, and India, supported by global engineering resources including electrification engineering centers in major U.S. locations and the UK. The company operates through a dynamic network of over 1,600 independent distributors and dealer locations worldwide.
Frequently Asked Questions
What was the recent announcement from Dana and Allison?
They announced that they received all necessary regulatory approvals for the sale of Dana's Off-Highway business to Allison.
How does this transaction impact Dana's future?
The transaction enables Dana to return $600 million to shareholders and is expected to reduce debt by approximately $2 billion next year.
What are Dana's main areas of focus?
Dana focuses on designing and manufacturing propulsion and energy-management solutions for various mobility markets worldwide.
Where is Allison Transmission headquartered?
Allison Transmission is headquartered in Indianapolis, Indiana, USA.
How many countries does Dana operate in?
Dana operates in 26 countries across six continents, employing 28,000 people globally.
