MAUMEE, Ohio, May 9, 2016 /PRNewswire/ -- Dana Holding Corporation (NYSE: DAN) announced today that it will open a new high-tech axle manufacturing facility in Toledo, Ohio.
The site of the new Dana facility was previously home to Willys-Overland Motors, which developed the original Jeep®, and is located less than three miles from FCA US LLC's Toledo Assembly Complex. The Toledo-Lucas County Port Authority redeveloped the property in conjunction with NAI Harmon Group. The new facility, adjacent to Interstate 75, is optimally located to support automakers throughout the geographic region.
Dana plans to expand a recently constructed 100,000 square foot facility on the property to nearly 300,000 square feet. Over the next few years, the company plans to invest approximately $70 million and employ more than 300 associates by 2020.
"Dana has remained committed to metropolitan Toledo, its home for nearly 90 years. In 2015, we strengthened our commitment to the area by consolidating numerous satellite offices in the region into our expanded World Headquarters and Technology Center in Maumee," said James Kamsickas, Dana president and CEO. "The investment in this new manufacturing facility is another substantial example of Dana's commitment to the city and our community. It is an honor for Dana to return manufacturing to the same historic site where Toledo's automotive industry began more than 100 years ago."
In addition to its longstanding partnership with the Jeep brand, the expanded Toledo facility will support axle assembly for another global automaker.
Beginning in late 2017, Dana plans to assemble enhanced versions of its industry-recognized Dana 30™ and Dana 44™ axles, which will deliver increased power density and performance in a smaller package. Future axle programs and assembly lines are also possible.
To support this investment, Dana received financial and other assistance from the State of Ohio and JobsOhio, the Regional Growth Partnership, Lucas County, the City of Toledo, the Port Authority, and First Energy. Dana's decision to locate the new facility in Toledo is subject to the formal approvals of financial incentives by state and local entities, which are expected later this month.
"On behalf of Dana, I would like to thank our customers for their trust and support as we grow our company and launch this new facility," said Bob Pyle, president, Dana Light Vehicle Driveline Technologies. "Our Toledo facility will integrate Dana's best global manufacturing practices and advanced operating systems. The plant's products, which will feature Dana's latest axle technologies – along with its close proximity to our customers and our World Headquarters and Maumee Technology Center – will benefit our customers, employees, and shareholders."
About Dana Holding Corporation
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. For more information, please visit dana.com.
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SOURCE Dana Holding Corporation