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| Mar 10, 2004 |
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DENSO Celebrates Opening of Manufacturing Company in Vietnam
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Tokyo - DENSO Corporation held an official opening ceremony today, March 10, at 10 a.m. local time (12 p.m. Japan time) at its Vietnamese manufacturing subsidiary, DENSO MANUFACTURING VIETNAM CO., LTD (DMVN).
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Nearly 120 people attended the ceremony including MPI Department of Management of Industrial and export-processing zone General Director Mr. Le Van Hoc and other representatives from the Vietnamese government and Hanoi City, as well as the Japanese Ambassador to Vietnam, Norio Hattori. DENSO President and CEO Koichi Fukaya presided over the ceremony.
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DMVN was established in October 2001 and has been manufacturing TGV actuators since August 2003 and air flow meters since December of the same year. The company will add EGR valves and other components to the product lineup in April 2004.
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DMVN also opened its Design Center for engineering services in July 2003. Sixteen engineers currently work at the Design Center, designing components for Japan as well as application design and simulation. DMVN plans to strengthen its engineering and design business in the future.
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“The ASEAN automotive market is one of the growth markets for the automotive industry, and we expect DMVN to continue to grow and supply competitive products worldwide,” said Yasuo Seki, president, DMVN.
“In fact, we anticipate that by 2005, the number of employees will be approximately 460 and our sales will reach US$45 million (5 billion yen). ”
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DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world’s major carmakers. Worldwide, the company employs 90,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2003 totaled US$19.4 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com
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| 1. |
Name: |
DENSO MANUFACTURING VIETNAM CO., LTD |
| 2. |
Establishment: |
October 4, 2001 |
| 3. |
Location: |
Plot E-1, Thang Long Industrial Park, Dong Anh Dist., Hanoi, Vietnam (about 15 kilometers from the city center of Hanoi) |
| 4. |
Capital: |
US$10 million (about 1.1 billion yen) |
| 5. |
Ownership: |
95 percent ownership by DENSO INTERNATIONAL ASIA PTE. LTD.
5 percent ownership by Sumitomo Corporation |
| 6. |
President: |
Yasuo Seki |
| 7. |
Business fields: |
Development and sales of air flow meters, TGV actuators, and other engine related components
Design Center Business (engineering services, such as 3D CAD and CAE analysis) |
| 8. |
Factory size: |
About 56,000 square meters of land area, and about 7,000 square meters of building area |
| 9. |
Total investment: |
About US$15 million (about 1.6 billion yen) |
| 10. |
Employees: |
350 (projected for the end of March 2004) |
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