DENSO Corp. has agreed to establish a joint venture company with one of India's leading car air conditioning system manufacturers, Subros Ltd. The new company is expected to begin designing car air conditioning systems and other products in September 2010.
DENSO will own 74% of what will tentatively be named DENSO Subros Thermal Engineering Center India Ltd. Subros will own the remaining 26%.
"With the establishment of this new company, our aim is to enhance our technical support to car manufacturers, as well as our competitiveness in India," says Akio Shikamura, senior managing director responsible for DENSO's Thermal Systems Business Group.
Here's a profile of the new company, per DENSO:
Location: Noida, India (near New Delhi).
President: Katsuyuki Osaki.
Capital: $1.5 million.
Investment: $3 million.
No. of employees: 40.
The new company, with DENSO's support providing application design services and product quality improvement, will design car air conditioners and other systems for DENSO group companies and Subros in India.
DENSO has been producing and selling automotive components in India since 1984. The new company will be its sixth in the region, including two subsidiaries: DENSO Kirloskar Industries Private Ltd. and DENSO Faridabad Private Ltd.
Global sales for the Japan-based company totaled $32 billion for its fiscal year ended March 31, 2010. For more information, visit www.globaldenso.com.
