Dana adds Magnum gaskets to portfolio

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.

Dana said that adding the Magnum Gaskets business will enhance its sealing product offerings and complement its Victor Reinz and Glaser global aftermarket brands.

 “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.

The Magnum Gaskets brand includes cylinder head, valve cover, oil pan and manifold gasket sets for the North American automotive and commercial vehicle aftermarket.

“The aftermarket sealing business is a priority for Dana, and we are proud to add Magnum Gaskets to our portfolio of well-respected aftermarket brands, expanding Dana's market position as a world leader in gasket and sealing technologies,” said Doug Wolma, vice president and general manager of the Dana Aftermarket Group.

“We are pleased to have another outstanding product offering within our aftermarket business to better meet our customers' needs in North America and around the world.”

The deal does not include manufacturing, which is located at MSI's facilities in Pinellas Park, Fla. Instead, Dana will take over production of the Magnum product line at its own facilities.

Magnum Gaskets is located in Bannockburn, Ill., a northern Chicago suburb. MSI launched the Magnum product line in 2012 to complement its OE business.