Getrag sells axle business to GKN

  • 03-Aug-2011 10:01 EDT

GKN plc on July 28 announced an agreement to buy Getrag’s axle businesses and to secure an exclusive license for its electric drivetrain technology. The axle businesses are Tier 1 suppliers of all-wheel-drive and rear-wheel-drive driveline systems solutions. Getrag Driveline Products is a joint venture with Dana Corp., and Getrag All Wheel Drive AB is a joint venture with Dana Holding Corp. and Volvo Car Corp. The transaction is expected to close by the end of September. GKN envisions the electric drivetrain technology being deployed for electric and certain hybrid applications, mainly in the European and North American markets.

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