ELYRIA, Ohio – Bendix Commercial Vehicle Systems has bought Dana out of their Bendix Spicer Foundation Brake (BSFB) joint venture.
Dana had controlled a 20% interest in the joint venture.
Bendix says it will immediately incorporate the wheel-end business and change the name to Bendix Commercial Vehicle Systems effective Jan. 1, 2021.
The JV has been in place since June 30, 2004.
“This change is a natural next step in our business growth in North America and around the globe. It comes as Knorr-Bremse and our North American-associated company, Bendix, continue to pursue our strategic agenda to further strengthen our position as global market leader in the commercial vehicle wheel-end brake business,” said Dr. Peter Laier, member of the executive board of Knorr-Bremse AG responsible for the Commercial Vehicle Systems division. “Knorr-Bremse and Bendix are uniquely qualified to carry the wheel-end business forward as a part of our focus on enhanced traffic safety on the roads in North America and around the world.”
Mike Hawthorne, president and CEO of Bendix, added, “Bendix and Dana have enjoyed a strong and vibrant partnership as we have successfully guided the strategic path of the joint venture for the past 16 years. Now we look forward to continuing that relationship as we undertake other joint projects and initiatives. As it was with the formation of BSFB, there are considerable mutual benefits when industry leaders collaborate; we anticipate the future will hold exciting opportunities for both of our companies.”