The technology group Oerlikon Management AG, Pfäffikon/Switzerland, is selling its Drive Systems Segment to Dana Inc., Maumee, OH/USA, for an enterprise value of CHF 600 million. This transaction marks a strategic milestone for Oerlikon as the company can fully concentrate on growing its surface solutions and advanced materials businesses, while strengthening its Manmade Fibers Segment.
The transaction is expected to close in late 2018 or the 1st quarter of 2019, subject to customary approvals and closing conditions.
At the beginning of July 2018, Oerlikon launched the initial public offering (IPO) of the Drive Systems Segment under the name of GrazianoFairfield AG. This was postponed, however, due to an unfavorable capital market environment.