SME Corporation

Hydro-Québec invested $85 million in Dana TM4 to maintain its 45% stake. The joint venture will acquire the remaining 50% of Prestolite E-Propulsion Systems (renamed Dana Electric Motor) and integrate Italian motor maker SME, for a total of about $190 million.

Dana Incorporated completed the acquisition of the SME Group, a designer and manufacturer of low-voltage AC induction and synchronous reluctance motors, inverters, and controls for off-highway electric vehicles.

Promsvyazbank opened a credit line of RUB 21 million to ENKO for building a new workshop to produce electrical products. The new workshop is expected to open in Q4 2017, increasing output by 10% and creating new jobs.