Upcoming AWS Coverage on Johnson Controls International Post-Earnings Results

LONDON, UK / ACCESSWIRE / November 21, 2016 / Active Wall St. blog coverage looks at the headline from auto component manufacturer and OEM company, Dana Inc. (NYSE: DAN), as the firm announced on November 18, 2016, the acquisition of power-transmission and fluid-power businesses from Italy's Brevini Group S.p.A. The acquisition indicates Dana's earnestness about strengthening its hybrid and electric cars business. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Dana's competitors within the Auto Parts space, Johnson Controls International PLC (NYSE: JCI), reported 2016 fiscal fourth quarter and full year earnings on November 05, 2016. AWS will be initiating a research report on Johnson Controls International in the coming days.

Today, AWS is promoting its blog coverage on DAN; touching on JCI. Get all of our free blog coverage and more by clicking on the links below:

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Financial Highlights

Dana initially will acquire 80% of the Brevini's business and keep the option of acquiring the balance 20% by 2020. The total value of the two businesses is approximately ?325 million including around ?100 million debt.

The acquisition is expected to close in the first quarter of 2017, subject to regulatory approvals. Dana plans to use existing cash in hand to finance the deal including refinancing of Brevini's debt. Dana expects that the acquisition to be accretive to earnings in 2017.

Commenting on the acquisition, James Kamsickas, President and CEO of Dana said:

"We have long admired Brevini's exceptional products, customer focus, and company culture, which are some of the most pertinent reasons we specifically targeted this acquisition ? at this opportune time in the off-highway business cycle."

Renato Brevini, President of Brevini Group S.p.A. added:

"Dana's global footprint, operational excellence, deep industry knowledge, and position as a top-tier supplier to manufacturers will raise the profile and market penetration of our products."

How Dana benefits from the deal?

Italy-based Brevini Group is privately owned and specializes in mobile planetary hub drives including planetary gearboxes, hydraulic pumps, motors, valves and advanced electronic control systems. It has engineering and manufacturing operations in China, Germany, and Italy and employs around 2,300 people. In 2015, Brevini Fluid Power achieved a consolidated turnover of ?106.4 million and Brevini Power Transmission achieved a consolidated turnover of ?281.2 million.

Dana is a US-based supplier of engineered drivetrain, sealing, and thermal-management technologies for three primary markets ? passenger vehicle, commercial truck, and off-highway equipment. It employs around 23,000 people across 25 countries and its annual sales for 2015 were $6.1 billion. Automotive News ranks Dana in the 39th position amongst the top 100 global suppliers of parts sales to auto manufacturers. Dana's strategic acquisition of Brevini's businesses will enable it to expand its product portfolio and establish it as a sole player in off-highway solutions.

With the acquisition, Dana will gain Brevini's portfolio of products. Dana, a market leader in spiral bevel and hypoid gear technologies will be able to leverage its offerings with Brevini's expertise in cylindrical gearing and planetary hub gears.

Dana would also gain access to technology for tracked vehicles as well as increase its market for off-highway driveline systems two-fold. Brevini's technologies will give a platform for Dana's light- and commercial-vehicle end-markets. These technologies will give a boost to Dana's endeavors in the hybrid and electric cars segment.

The acquisition will also help Dana to boost its products offerings in the construction, mining, material-handling, and other off-highway equipment.
According to Aziz Aghili, President of Dana Off-Highway Drivetrain Technologies:

"Brevini's technology portfolio will increase the number of patents and patents pending for Dana's off-highway business by 33%."

In October 2016, Dana announced the acquisition of Brazil based forged and machined components manufacturer - SIFCO S.A, which is expected to be finalized by the end of 2016. In August 2016, it officially changed its name to Dana Incorporated from Dana Holding Corporation. The name change was aimed at changing the perception of the company's image in the business world. It aimed at portraying an image of a "unified organization with an intense focus on customer satisfaction, manufacturing excellence, and advanced technology across all mobility sectors".

Stock Performance

Dana's share price finished yesterday's trading session at $17.01, advancing 2.72%. A total volume of 2.46 million shares exchanged hands, which was higher than the 3 months average volume of 1.79 million shares. In the last month and previous three months, shares of the company have advanced 12.65% and 19.03%, respectively. Moreover, the stock gained 23.26% since the start of the year. The stock is trading at a PE ratio of 35.00 and has a dividend yield of 1.41%.

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SOURCE: Active Wall Street