DENSO to dissolve capital alliance with Doowon Climate Control
DENSO Corp. has reached an agreement to dissolve its capital alliance with Doowon Climate Control Co. Ltd., the second-largest car air conditioning system manufacturer in South Korea.
“Since October 2002, DENSO has held a 33.4% stake in Doowon Climate Control,” says Nobuaki Katoh, senior managing director responsible for Corporate Center and the Thermal Systems Business Group of DENSO. “However, due to significant changes in the business environment for the two companies over the past five years, we decided to end the capital partnership.”
DENSO Corp. is headquartered in Kariya, Aichi prefecture, Japan, and is a leading global supplier of advanced technology, systems and components. In the Americas, DENSO employs more than 17,000 people with consolidated sales totaling $6.5 billion for the fiscal year ended March 31, 2007.
For more information, visit the company's Web site at www.globaldenso.com.