Roseville, United States – Dayco, Tecno System and Monet have entered into an equity agreement positioning the trio for growth in the electrified propulsion systems space. The resulting competence centre is a true R&D that starts with Monet’s skill and competencies, and ushers them through Tecno System’s industrialisation capabilities, all while utilising Dayco’s 115 years of manufacturing.
Dayco will expand these individual electronic products into electro-mechanical systems, offering OEMs electrified propulsion solutions across fuel cell, electric, and hybrid applications worldwide. The transaction is expected to be closed by the end of June 2023, financial details of the transaction were not disclosed.
Tecno System is a company that develops and produces electronics for a wide range of industries such as automotive, commercial vehicles, off-highway, railways, military, aerospace, and industrial. Tecno System will be the preferred partner for Dayco’s electronics supplies as the company is expanding its customer base and growing sales revenues in the electric vehicle space.
“We are excited about teaming up with Tecno System and Monet to build on Dayco’s success. The Competence Centre for advanced engineering in the field of electronics and controls will accelerate and enhance the development of our fuel cell solutions, e-drives, and hybrid modules. This partnership will solidify Dayco’s competencies in control logic and software know-how, extending the product range for its customers globally,” says Wouter Nijenhuis, chief commercial officer, Dayco Propulsion Solutions.
“Dayco’s robust customer base and manufacturing expertise combined with Tecno System and Monet’s outstanding abilities to provide integrated electronic and controls, will position Dayco as a strong partner for delivering electrified solutions to its customers, further protecting the environment and reducing CO₂,” adds Wouter.
“We at Tecno System and Monet are delighted to partner with Dayco. With this corporation, Tecno System has accomplished a significant milestone in our growth strategy and strengthened our position as a leader in the creation of electrical systems that enable the industry’s transformation toward a greener, zero-emission mobility,” says Tiziano Ianni, founder and CEO, Tecno System Group.
Giovanni Barba, founder and CEO, Monet, adds “We are pleased with Dayco’s commitment to our company that will further strengthen the expertise of the Monet’s competence centre as we join forces and benefit from Dayco’s 115+ years of delivering innovative solutions.”
With a mission to deliver advanced electrified solutions to worldwide customers, Dayco will leverage this new partnership to strengthen its propulsion solution capabilities to bring quality products that meet and exceed customer needs.
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