Honeywell invests in Slovak turbocharger plant

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.”

The plant in Slovakia is expected to start production in 2012 and will initially produce turbochargers for light and light commercial vehicles.