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| Mar 3, 2005 |
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DENSO Establishes New Company in Tianjin, China to Produce Heat Exchangers
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TOKYO - DENSO Corporation today announced that on February 25 it established a new company to produce heat exchangers for car air conditioners and radiators in Tianjin, China. The new company - DENSO (Tianjin) Thermal Products Co., Ltd. - will begin production in July 2006. The initial capital investment will be approximately US$66.7 million (6.8 billion yen).
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“DENSO established this new company in response to a growing demand for car air conditioners and radiators resulting from increased production by automotive manufacturers in China,“ explained Satoshi Watanabe, senior managing director in charge of DENSO's Thermal Systems Group. “DENSO (Tianjin) Thermal Products will supply heat exchangers primarily to DENSO's existing car air conditioner production companies in China. Currently, these production companies' main customers are Japanese automotive manufacturers in China, but DENSO will continue expanding its business, so it can supply European and American automotive manufacturers in China as well.“
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DENSO has been growing its car air conditioner business in China Since 1994, when it opened its first production company, Yantai Shougang DENSO Co., Ltd., DENSO, in northern China. DENSO now has four production companies in China including Yantai Shougang: Tianjin DENSO Air-Conditioner Co., Ltd. and Tianjin Fawer DENSO Air-Conditioner Co., Ltd. in northern China, and Guangzhou DENSO Co., Ltd. in southern China.
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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 95,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2004 totaled US$24.2 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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Company Profile
| 1. |
Name |
: |
DENSO (TIANJIN) THERMAL PRODUCTS CO., LTD. |
| 2. |
Established |
: |
February 25, 2005 |
| 3. |
Location |
: |
Xiqing Economic Development Area, Tianjin, China
(about 10 kilometers south of the center of Tianjin) |
| 4. |
Capital |
: |
US$42 million (4.3 billion yen) * |
| 5. |
Ownership |
: |
100 percent ownership by DENSO (China) Investment CO., LTD. ** |
| 6. |
Total Investment |
: |
US$66.7 million (6.8 billion yen) * |
| 7. |
President |
: |
Yokichi Komahashi (currently senior project manager of Thermal Systems Manufacturing Planning and Development Department, DENSO Corporation) |
| 8. |
Product Line |
: |
Heat exchangers for car air conditioners and radiators |
| 9. |
Employees: |
: |
800 (projected for fiscal 2010) |
| 10. |
Sales |
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US$127.5 million (13 billion yen)* (projected for fiscal 2010) |
| 11. |
Site area |
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90,000 square meters |
| 12. |
Total floor area |
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23,000 square meters |
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*Exchange rates used are 102 yen per one dollar, at the end of January 2005.
**100 percent DENSO-owned regional headquarters for China |
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Background Information:
Company Profile of Yantai Shougang DENSO Co., Ltd.
| 1. |
Established |
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December 1994 |
| 2. |
Location |
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Yantai Economic and Technical Development Zone, China |
| 3. |
Capital |
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Approximately US$39 million (4 billion yen) |
| 4. |
DENSO Ownership |
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30 percent |
| 5. |
Business Fields |
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Manufacture and sale of car air conditioners, bus coolers, and compressors for car air conditioners |
| 6. |
Employees |
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Approximately 380 (December 2004) |
| 7. |
Sales |
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Approximately US$147 million (15 billion yen)* |
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Company Profile of Tianjin DENSO Air-Conditioner Co., Ltd.
| 1. |
Established |
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December 1997 |
| 2. |
Location |
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Yang Liu Qing, Tianjin, China |
| 3. |
Capital |
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US$15 million |
| 4. |
DENSO Ownership |
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74 percent |
| 5. |
Business Fields |
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Manufacture and sale of car air conditioners and radiators |
| 6. |
Employees |
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Approximately 300 (December 2004) |
| 7. |
Sales |
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Approximately US$98 million (10 billion yen)* |
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Company Profile of Tianjin Fawer DENSO Air-Conditioner Co., Ltd.
| 1. |
Established |
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October 2003 (Started production in February 2005) |
| 2. |
Location |
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Xiqing Economic Development Area, Tianjin. China |
| 3. |
Capital |
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US$15.1 million |
| 4. |
DENSO Ownership |
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60 percent |
| 5. |
Business Fields |
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Manufacture and sale of car air conditioners |
| 6. |
Employees |
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Approximately 70 (December 2004) |
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Company Profile of Guangzhou DENSO Co., Ltd.
| 1. |
Established |
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October 2003 (Started production in February 2005) |
| 2. |
Location |
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Guangzhou Auto-Parts Industry Town, Yonghe, Zengcheng, Guangzhou, China |
| 3. |
Capital |
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US$23 million |
| 4. |
DENSO Ownership |
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60 percent |
| 5. |
Business Fields |
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Manufacture and sale of car air conditioners, bus coolers and radiators |
| 6. |
Employees |
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Approximately 280 (December 2004) |
| 7. |
Sales |
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Approximately US$39 million (4 billion yen)* |
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*Exchange rates used are 102 yen per one dollar for the fiscal year ended December 31, 2004.
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