April 07, 2006

Kevin Hall
(804) 225-4260

Gary Spencer
Dynax America Corporation
Christie Miller
(804) 545-5805
-Dynax America to expand manufacturing facility -

RICHMOND - Governor Timothy M. Kaine today announced that Dynax America Corporation, a Japanese auto parts manufacturer and North American subsidiary of Exedy Corporation, will invest $11.7 million to expand its existing facility in Botetourt County’s Eastpark Commerce Center. The company will add manufacturing capacity, creating 52 new jobs. Virginia successfully competed against Tennessee for the project.

“Dynax America has experienced our business climate first-hand, and made the decision to reinvest in Virginia,” Governor Kaine said. “Dynax America is Botetourt’s largest private employer, and we value the opportunities this company brings to the region and to the Commonwealth.”

Dynax America located in the Roanoke Valley in 1996. The company’s Japanese parent, Dynax Corporation of Hokkaido, Japan, is a subsidiary of Exedy Corporation, which is based in Osaka, Japan. Exedy has facilities in a dozen countries worldwide and employs more than 7,000 people. Dynax America employs 278 people at its Botetourt County plant, where it manufactures clutch discs, driven plates, clutch packs, and torque converter pistons for automatic transmissions.

“Dynax and Exedy consider the Commonwealth of Virginia and Botetourt County important partners in the company’s decision to expand the Dynax America facility,” said Koji Akita, President of Dynax America. “The Roanoke Valley’s strategic location, the quality of the workforce and the local infrastructure were also critical factors in the decision to increase our investment in Botetourt County.”

The Virginia Economic Development Partnership worked with Botetourt County and the Roanoke Valley Economic Development Partnership to prepare the state’s proposal and negotiate an incentive package to secure the project for Virginia. Governor Kaine approved a $125,000 grant from the Governor’s Opportunity Fund to assist Botetourt County with the project. The Virginia Department of Business Assistance will also support the project with training assistance through its Workforce Services Jobs Investment Program.

"Dynax America is a vital component of Botetourt County's automotive cluster and our largest private employer,” said Wanda C. Wingo, Chair, Botetourt County Board of Supervisors. “We are pleased that Exedy Corporation has chosen to expand Dynax America's facilities here and we intend to work as a partner to help ensure their future success."


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