MAUMEE, Ohio (Feb. 5, 2016) — Dana Holding Corp. has acquired the Magnum Gaskets aftermarket gaskets and sealing products business from Modern Silicone Technologies Inc. (MSI) in a move to accelerate its aftermarket growth.
“This acquisition aligns with Dana's growth strategy and our company's global position as a preeminent supplier of gaskets and sealing technologies for original equipment manufacturers and our aftermarket customers,” said Dana President and CEO James Kamsickas.
“This strategic action will enable Dana to increase customer satisfaction, while accelerating our aftermarket growth by expanding our portfolio of products and the geographical regions in which we operate.”
Terms of the deal were not disclosed. Distribution to existing customers will not be disrupted, Dana said.