Dana Holding Corporation (NYSE: DAN) today announced that the company’s operations in Gyor, Hungary, have been approved for 490 million HUF (US $2.2 million) in subsidies under the Hungarian government’s New Széchenyi Plan for economic development. These funds were approved through application number GOP-1.3.1-11/A-2012-0320.
Earmarked for programs that support the development of technological innovations, these funds will be used for the expansion of Dana’s manufacturing and assembly capabilities in Gyor. New machining equipment will improve manufacturing flexibility and create more than 30 new jobs.
Dana previously received 130 million HUF (US $574,000) in economic development funds through the New Széchenyi Plan for an aftermarket logistics center in Gyor, which opened in 2012.
Strategically located near supply chains to customers and end users, this facility ships and receives replacement parts supported by an industry-leading enterprise resource planning (ERP) system and an online ordering system. The grant for the logistics center was authorized under application number GOP-3.2.1-11-2011-0017.
