DETROIT – Following a massive restructuring effort and failed hostile takeover bid by ArvinMeritor Inc., Dana Corp. is considering acquiring new business via acquisition, the company’s chief executive says.

“It’s important to grow,” says Dana CEO and President Mike Burns, who officially joined the Toledo, OH-based supplier March 1 from General Motors Corp. where he was president of GM’s European operations. “If we do any acquisitions, it would be very specific. It would add things to our systems and subsystems. We won’t go out and buy to diversify.”

Dana wants to focus on growing its current product lineup and adding customers to an already diversified client base, which includes DaimlerChrysler AG, Ford Motor Co., GM, Toyota Motor Corp., Nissan Motor Co. Ltd, BMW AG, and International Truck and Engine.

Mike Burns

“The issue is growing the business, growing the content per vehicle with each customer,” says Burns. “And we’ve got some good opportunities to do that. In some cases, the business may be a bit underrepresented for the size of those OEMs.”

While Dana is best known for its body frames and engine cradles, Burns says there is a lot of potential growth for the company’s driveline components and fluid management systems.

Dana unveiled here at the Society of Automotive Engineers Congress and Exposition a new integrated independent rear suspension (IRS) module for fullsize light-duty trucks.

The use of independent rear suspensions on pickups and SUVs is an emerging trend, Dana says.

“While Dana’s IRS module was developed in North America, the potential for global growth is enormous as an increasing number of consumers demand that trucks and other utility vehicles handle more like cars,” says Chuck Heine, Dana president-technology development.