Oct 28, 2008
Hamanakodenso Establishes Production Company For Automotive Sensors and Solenoid Valves in Vietnam
KARIYA (Japan) -On October 20, Hamankodenso Co., Ltd., a subsidiary of DENSO Corporation, established a new company to produce automotive sensors and solenoid valves in Hung Yen, Vietnam. Scheduled to begin operations in June 2010, the new company, Hamaden Vietnam Co., Ltd. (HDVN),will have a capital of 1.3 billion yen (approximately US$12.6 million*) and an initial investment of approximately 2.2 billion yen (approximately US$21.2 million*). Construction is scheduled to begin in February 2009 and be completed by September 2009. HDVN will create approximately 800 new jobs by 2012.
HDVN will produce sensors for the ASEAN market, as well as solenoid valves for all markets, with the exception of Japan. The sensors produced will include those used to control the air-intake volume sent to the engine, and the solenoid valves will be used to send vaporized gasoline from the tank to the engine.
HDVN is Hamanakodenso's second overseas company, the first being a production company in Indonesia, which produces horns.
Profile of new company
|1.Name||:Hamaden Vietnam Co., Ltd.|
|2.Established||:October 20, 2008|
|3.Location||:Thang Long Industrial Park II, Hung Yen, Vietnam
(about 30 km from the city center of Hanoi)
|4.Capital||:1.3 billion yen
(approximately US$12.6 million, 100 percent owned by Hamanakodenso Co., Ltd.)
|5.Investment||:Approximately 2.2 billion yen (approximately US$21.2 million*)|
|6.Employees||:Approximately 800 (projected for fiscal year 2012)|
|7.Business description||:Production of automotive sensors and solenoid valves|
|8.Sales||:Approximately 3.5 billion yen (approximately US$33.8 million*, projected for fiscal year 2012)|
|9.Site area||:Approximately 50,000 square meters|
|10.Building area||:Approximately 7,000 square meters|
Profile of Hamanakodenso Co., Ltd.
|1.Location||:136, Washizu, Kosai, Shizuoka, Japan|
|2.Capital||:480 million yen (approximately US$4.6 million*, 76.5 percent owned by DENSO and 23.5 percent owned by others)|
|3.Business description||:Production and sales of automotive coils, horns, sensors and valves|
|4.Sales||:55 billion yen
(approximately US$531 million*, fiscal year ended March 2008)
|5.Employees||:1,803 (As of the end of March 2008)|
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 approximately 119,000 people in 32 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2008 totaled US$40.2 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
*Exchange rates used are 103.57 yen per one dollar, at the end of September 2008 for convenience only. Billion is used in the American sense of one thousand million.