Dana and Bosch agree on technology partnership

2254 Dana Holding Corporation and 2253 Bosch Rexroth are planning to establish a joint venture partnership operation to co-develop and manufacture advanced drive transmissions for the off-highway, construction equipment market. The firms are to form a 50:50 joint-venture and have signed a memorandum of understanding for the deal. The planned joint-venture company is expected to operate in Arco, Italy and will engineer, manufacture, and market hydro-mechanical variable powersplit transmission systems (HVT) for the global off-highway markets. These sophisticated systems will be aimed at delivering improved fuel economy, productivity, emissions, and maneuverability. Dana and Bosch Rexroth will contribute staff, intellectual property, and capital to the new joint-venture company. The partnership will benefit from Dana's expertise in off-highway transmission engineering and manufacturing, and Bosch Rexroth's deep experience in hydraulics and systems. The move represents an additional agreement as Dana and Bosch Rexroth are already engaged in a joint project to develop power split transmissions for construction machines.