Dana Holding Corporation, a leading automotive supplier of axle, driveshaft, and structural, sealing and thermal-management products, will invest $3.8 million on expansion of its Paris, Tennessee, manufacturing operation. The firm plans to initially add 49 new, full-time, employees to the approximately 500 workers already based at the plant.
"Our customers continue to develop higher performing engines of the same or reduced size that generate more power, often using less fuel," said Dwayne Matthews, president of Dana's Power Technologies Group. "These engines require more advanced sealing and thermal-management technologies. Our Paris operation has been a leader in sealing products since the 1960s.
"With support from state, county, and city leaders, the new equipment and jobs in Paris will allow our local team for the first time to expand beyond sealing products to thermal solutions. We'll be producing oil coolers for a number of major vehicle manufacturers to the same high quality standards as we produce sealing products today."
Information on any expansion incentive that might have been provided by state economic development officials was not immediately available. However, Bill Hagerty, Economic and Community Development commissioner, said; "under Governor Bill Haslam's leadership, our department is continually working to create a business friendly environment that gives our existing industries the confidence to grow in Tennessee. I congratulate Dana on this latest expansion and thank them for the continued commitment they are making to Henry County."