Honeywell International (HON) announced that it will invest in a new turbocharger manufacturing facility in Presov, Eastern Slovakia.
The financial terms of this transaction were not disclosed.
AlexIsmail, president and CEO of Honeywell Transportation Systems, said in a statement: "Turbochargers enable car and truck manufacturers to reduce engine size to increase Fuel efficiency and reduced emissions without sacrificing the performance consumers demand.â€
The plant in Slovakia is expected to start production in 2012 and will initially produce turbochargers for light and light commercial vehicles.
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