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LONDON, UK / ACCESSWIRE / February 14, 2017 /Active Wall St. blog coverage looks at the headline from auto engineering firm Dana Inc. (NYSE: DAN) as the Company announced on February 13, 2017, announced the acquisition of US Manufacturing Corporation's (USM) axle housing and driveline shaft manufacturing operations. The transaction is expected to be completed in Q1 2017 and is subject to regulatory approvals and closing conditions. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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USM's assets located at Warren, Michigan will form part of the acquisition and Dana will pay approximately $100 million in cash for them. USM is a leading manufacturer of highly specialized axle housings for the automotive industry. it also manufactures machined components, axle housings & assemblies, axle shafts & transmission shafts. USM is based at Warren, Michigan and its production facilities are spread across an area of 775,000 square feet and has a workforce of over 600 people. The Warren facility is not only USM's headquarters but it also has the engineering, prototyping, testing & development, manufacturing units at this location. The USM also has a facility at Silao, Guanajuato in Mexico which is spread across 275,000 square feet and employs 530 people. It houses the engineering, prototyping, and manufacturing capabilities of USM.

Commenting on the acquisition, Jim Kamsickas, Dana's President and CEO said:"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. 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."

Advantages of the acquisition

Maumee, Ohio-based Dana was formerly known as Dana Holding Corporation and provides high technology driveline, sealing and thermal-management products for the Auto Industry. The Company has 90 facilities across 34 countries and has more than 27,000 employees globally.

With this strategic acquisition, Dana will gain access proprietary tube-manufacturing processes and intellectual property for lightweight thin-wall axle tubes and hollow axle shafts. These products use USM's proprietary manufacturing process that creates customized products which are aimed at specific applications. The highlight of this process is that the products have varying wall sizes leading to great operational strength while delivering a significant overall weight savings for the component. The acquisition will help Dana move from purchasing components to actually supplying them and lead to Dana strengthening its revenues from passenger and commercial vehicle manufacturers. USM's products and technologies will help Dana expand its portfolio of lightweighting innovations. Apart from this, the location of USM' facilities will help Dana be closer to its customers.

Strategic Acquisitions

Dana has been strengthening its product portfolio and expertise with strategic acquisitions that not only bring new technologies to the Company's fold but also helps it to service its customers. In February 2017, Dana completed the acquisition of the power-transmission and fluid power businesses of Brevini Group, S.p.A. In October 2016, Dana announced the acquisition of strategic assets of Brazil's SIFCO S.A., a leading producer of forged and machined components. In February 2016, Dana acquired Magnum Gaskets, a US-based supplier of aftermarket gaskets and sealing products for automotive and commercial-vehicle applications.

Latest Earnings Figures

On February 09, 2017, Dana announced its Q4 2016 and full year 2016 financial results. For the year 2016, Dana reported sales of over $5.8 billion while the sales for Q4 2016 were $1.45 billion. The diluted adjusted EPS for the year 2016 was $1.94, while its diluted adjusted EPS for Q4 2016 was $0.59. The diluted EPS were $4.36 for 2016 and diluted EPS for Q4 2016 was $3.34.

Stock Performance

On Monday, February 13, the stock closed the trading session at $19.71, rising slightly by 0.66% from its previous closing price of $19.58. A total volume of 1.43 million shares have exchanged hands. Dana's stock price surged 25.46% in the last three months, 43.67% in the past six months, and 62.57% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 3.85%. The stock is trading at a PE ratio of 4.49 and has a dividend yield of 1.22%. The market capital of the stock is $2.86 billion at yesterday's closing price.

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