Source: Bendix Commercial Vehicle Systems announcement
ELYRIA, Ohio –Bendix Commercial Vehicle Systems LLC (Bendix) – a subsidiary of Knorr-Bremse, the global market leader for braking systems and a leading supplier of other rail and commercial vehicle systems – announced it has acquired full ownership of Bendix Spicer Foundation Brake LLC (BSFB), the joint venture it formed in 2004 with Dana Incorporated (NYSE: DAN).
Dana had previously held a 20 percent stake in the joint venture. Bendix will immediately incorporate the wheel-end business as one of its five Centers of Competency (CoC) and change the name to Bendix Commercial Vehicle Systems LLC effective January 1, 2021.
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On June 30, 2004, Bendix Commercial Vehicle Systems and Dana Incorporated launched BSFB with one simple goal: to be the industry’s first choice for foundation braking systems. The joint venture combined the air disc brake, slack adjuster, and actuator business units from Bendix with the foundation drum brake business from Dana. Both companies contributed product and technology, as well as manufacturing and distribution leadership.
The Bendix wheel-end CoC will remain based in Elyria, and will continue operating its R&D Center in Kalamazoo, Mich., as well as the newly expanded state-of-the-art wheel-end manufacturing plant in Bowling Green, Ky.
“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,” stated 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.”
“The value of our wheel-end solutions remains exceptionally high in the marketplace, evidenced by milestones such as surpassing 3.5 million production units for the Bendix® ADB22X® air disc brake earlier this year,” remarked Aaron Schwass, vice president – CoC wheel-end NA and general manager, Bendix Spicer Foundation Brake. “Today we begin a new chapter in our wheel-end success story … one that continues our legacy of proven product, technology, and distribution leadership to support all our customers with innovative systems solutions designed to meet their needs.”
The entire announcement can be viewed by clicking HERE.