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February 1, 2016 10:55 AM, EST
Dana Acquisition Expands Aftermarket Presence

Heavy-duty supplier Dana Holding Corp. has acquired Magnum Gaskets, a supplier of aftermarket gaskets and sealing products for commercial-vehicle and automotive applications.

Dana CEO James Kamsickas said in a statement, the purchase will accelerate “our aftermarket growth by expanding our portfolio of products and the geographical regions in which we operate.”

Magnum Gaskets makes cylinder head, valve cover, oil pan and manifold gasket sets, Maumee-Ohio-based Dana said, adding the distribution of Magnum Gaskets to existing customers will not be disrupted as a result of the acquisition.

Magnum Gaskets was a unit of Modern Silicone Technologies Inc. Terms of the deal were not announced.