NEW YORK (AP) -- Honeywell International Inc. is investing in a new turbocharger manufacturing plant in Presov, Slovakia, the diversified manufacturing company said Thursday.
Financial details were not disclosed.
"Turbochargers give car- and truck-makers the flexibility to downsize their engines to increase fuel efficiency as much as 40 percent and reduce emissions without sacrificing the performance that consumers demand," Alex Ismail, president and CEO of Honeywell Transportation Systems, said in a statement.
The facility, which is expected to be running by 2012, will initially make turbochargers for light vehicle and light vehicle commercial vehicle applications.
Honeywell anticipates the turbocharger segment will grow by more than 2 million vehicles this year. The segment is expected to grow even more in the next five years as automakers turn to turbochargers to meet fuel economy and emissions regulations.
Honeywell, based in Morris Township, N.J., reported in January that its fourth-quarter profit more than doubled.