Japanese auto parts maker expanding in Virginia

Friday, Oct 24, 2014

Gov. Terry McAuliffe announced a $32.6 million Virginia investment by a Japanese auto parts manufacturer Wednesday during a 10-day trade mission in Asia.

Dynax America Corp. will expand its operations in Botetourt County near Roanoke, creating 75 jobs. Dynax manufactures automatic transmission components, friction disks, mating plates and assemblies.

The Port of Virginia is the company's principal international trade gateway.

"The assets of our port are second to none," McAuliffe said.

Dynax will receive $475,000 in incentive grants from the state as well as benefits from several other sources, including the Port of Virginia Economic and Infrastructure Development Grant Program.

McAuliffe will return to Virginia next week after stops in China and South Korea.