MAUMEE, Ohio, Sept. 8, 2016 /PRNewswire/ -- In support of secured new business, Dana Incorporated (NYSE: DAN) announced today that it plans to construct a state-of-the-art gear manufacturing facility in Europe. The establishment of this Spicer® gear factory in Győr, Hungary, will serve as a significant enabler to further satisfy the regional needs of Dana's global customers.
The 140,000 square-foot (13,000 square-meter) facility will provide customers in the region with access to Dana's advanced design, engineering, and manufacturing expertise to support their sourcing initiatives and technology strategies.
With construction slated to begin in the first quarter of 2017, the company plans to invest approximately $51 (€46) million in the new facility and expects to employ approximately 200 associates by 2020.
The facility will produce Spicer® AdvanTEK® hypoid or spiral bevel ring and pinion gear sets. Dana manufactures primary ring and pinion drive gearing for traditional banjo and beam axles, as well as all-wheel-drive systems. Full axle assembly on the site is possible in the future.
The company's AdvanTEK gearing line offers best-in-class noise, vibration, and harshness (NVH) performance, as well as greater power density in a compact package.
The new plant will serve as the company's fourth operation in Győr. The decision to develop another plant within the country was made possible by the support of the Hungarian Government which awarded Dana non-refundable cash grant based on the proposal of the Hungarian Investment Promotion Agency (HIPA).
"Dana is earning new business in the European marketplace, and to support this we are excited to add an additional gear-manufacturing facility to our footprint," said Bob Pyle, president of Dana Light Vehicle Driveline Technologies. "This plant is strategically positioned in close proximity to our other Győr operations and will enable us to deliver technologies to our European customers more quickly and cost effectively.
"We are grateful for the support that HIPA and the local government have provided during our site selection. Dana has operated in Győr for more than 10 years, and we know we can find exceptional employees there," Pyle added.
"We are pleased to have Dana further expand its business operations here. The new Dana gear plant will be a greenfield investment in the Győr Industrial Park, which is conveniently located near their other operations in Hungary," said Mr. Róbert Ésik, President of HIPA. "Investments like this are truly critical to the future of our country."
About Dana Incorporated
Dana is a world leader in the supply of highly engineered drivetrain, sealing, and thermal-management technologies that improve the efficiency and performance of vehicles with both conventional and alternative-energy powertrains. Serving three primary markets – passenger vehicle, commercial truck, and off-highway equipment – Dana provides the world's original-equipment manufacturers and the aftermarket with local product and service support through a network of nearly 100 engineering, manufacturing, and distribution facilities. Founded in 1904 and based in Maumee, Ohio, the company employs more than 23,000 people in 25 countries on six continents. In 2015, Dana generated sales of nearly $6.1 billion. Forbes Magazine has again selected Dana as one of America's 100 Most Trustworthy Companies for 2016. For more information, please visit dana.com.
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Jeff Cole, 419-887-3535, email@example.com