KARIYA (Japan) - DENSO Corporation will establish a new company in Tangier, Northern Morocco, Africa, to produce car air conditioning systems on April 1. The construction of its plant is scheduled to be completed in April 2011. The new company, DENSO Thermal Systems Morocco S.A.R.L., will start operations in December of the same year. The company is capitalized at 2.5 million euro and will invest up to 11.4 million euro by fiscal year 2011. DENSO Thermal Systems Morocco is expected to post sales of 12 million euro in fiscal year 2013.
The new company is DENSO's second production base in Africa and will offer car air conditioning systems to plants of automakers in the country.
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 120,000 people in 33 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2009 totaled US$32.0 billion. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
Profile of new company
1. Name : DENSO Thermal Systems Morocco S.A.R.L.
2. Location : Tangier, Morocco
3. President : Dany Saad (currently manager rank responsible for production engineering at DENSO Thermal Systems S.p.A.)
4. Establishment : April 1, 2010
5. Capital : 2.5 million euro
6. Ownership : 100 percent owned by DENSO International Europe B.V. (DENSO's holding company in Europe)
7. Investment : 11.4 million euro
8. Sales : 12 million euro (projected for fiscal year 2013)
9. Employees : 90 (projected for the fiscal year 2013)
10. Floor area : 6,300 square meters
11. Site area : 25,400 square meters
12. Business description : Production of car air conditioning systems
Profile of DENSO Thermal Systems S.p.A.
1. Name : DENSO Thermal Systems S.p.A.
2. Location : Poirino, Italy (suburbs of Torino)
3. President : Manfredo Nicolelli
4. Establishment : March 2001
5. Capital : 170.9 million euro
6. Ownership : 100 percent owned by DENSO International Europe B.V.
7. Sales : 550.9 million euro
8. Employees : 2,620
9. Business description : Production and sales of car air conditioning systems, heaters, radiators, and other products
