DENSO to Establish Shanghai, China Joint Venture to Produce Fuel Injection Pumps for Diesel Vehicles
JapanCorp: <http://www.japancorp.net/?page_num=1> DENSO to Establish Shanghai, China Joint Venture to Produce Fuel Injection Pumps for Diesel Vehicles Tokyo, Japan, Aug. 26, 2003 - (JCN Newswire) - DENSO Corporation today announced that it will establish a joint venture to produce fuel injection pumps for diesel vehicles with SHANGHAI PUDONG "EV" FUEL INJECTION CO., LTD. and SHANGHAI DONG SONG INTERNATIONALT RADING CO., LTD. Both companies are based in Shanghai, China. DENSO will invest US$4.6 million in SHANGHAI "DV" FUEL INJECTION CO., LTD., which is owned by SHANGHAI PUDONG "EV" FUEL INJECTION CO., LTD. and SHANGHAI DONG SONG INTERNATIONALT RADING CO., LTD. SHANGHAI "DV" FUEL INJECTION CO., LTD. will be renamed SHANGHAI DENSO FUEL INJECTION CO., LTD. when it is established in October of this year. SHANGHAI DENSO FUEL INJECTION CO., LTD. will produce fuel injection pumps for diesel vehicles produced by China's automobile manufacturers. "DENSO has been providing technical support to SHANGHAI "DV" FUEL INJECTION CO. ,LTD., which currently produces fuel pumps," said Hiroshi Uchiyama, senior managing director in charge of DENSO's Sales Group. "Because the Chinese market is expected to grow as China continues to build its transportation infrastructure through a network of expressways, DENSO decided to invest capital in SHANGHAI "DV" FUEL INJECTION CO. ,LTD. Also, as emissions regulations are scheduled to tighten in China, DENSO plans to expand future common rail system components production business in China." Currently, DENSO operates seven production companies in China: - Yantai Shougang DENSO Co., Ltd., Yantai, Shandong Province, People's Republic of China (business lines: manufacture and sale of air conditioners,; 30 percent DENSO ownership; 347 employees); - Tianjin DENSO Engine Electrical Products Co., Ltd., Tianjin, People's Republic of China (business lines: manufacture and sale of alternators and starters; 40 percent DENSO ownership; 422 employees); - Chongqing DENSO Co., Ltd., Chongqing, People's Republic of China (business lines: manufacture and sale of magnetos, CDI amplifiers and ignition coils; 50 percent DENSO ownership; 105 employees); - Tianjin DENSO Electronics Co., Ltd ., Tianjin , People's Republic of China (business lines: manufacture and sale of automotive electronic control components; 85.9 percent DENSO ownership; 107 employees); - Tianjin DENSO Air-Conditioner Co., Ltd ., Tianjin, People's Republic of China (business lines: manufacture and sale of air conditioners; 51 percent DENSO ownership; 324 employees) - Guangzhou DENSO Co., Ltd., Guangzhou, People's Republic of China (business lines: manufacture and sale air conditioners; 60 percent DENSO ownership; 150 employees). , and - Tianjin ASMO Automotive Small Motor Co., Ltd., Tianjin, People's Republic of China (business lines: manufacture and sale of small motors; 11.25 percent DENSO ownership; 560 employees). New Company Profile Name: SHANGHAI DENSO FUEL INJECTION CO., LTD. Establish: October 2003 (planned) Location: Shanghai Pu-Dong Ave. (about 15 kilometers east from the city-center of Shanghai) Capital: US$ 13.6 million (1.6 billion yen) Ownership: 34 % ownership by DENSO (China) Investment CO., LTD. 61 % ownership by SHANGHAI PUDONG "EV" FUEL INJECTION CO. LTD. 5 % ownership by SHANGHAI DONG SONG INTERNATIONALT RADING CO., LTD. President: Li Yong(Current president of SHANGHAI "DV" FUEL INJECTION CO., LTD.) Product Lines: Fuel injection pumps and nozzles for diesel vehicles Employees: 970 people in 2005 (planned) About DENSO Corporation 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 90,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2003 totaled US$ 19.4 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges.For further information, please visit the DENSO Corporation home page at: www.denso.co.jp/index-e.html <http://www.denso.co.jp/index-e.html> Contact Shinya Omi, Yoko Suga, Miwa Kurokawa DENSO CORPORATION Phone: 81-566-25-5594, 5592 Fax: 81-566-25-4509 shinya_omi@denso.co.jp yoko_suga@denso.co.jp miwa_kurokawa@denso.co.jp _____ Aug. 26, 2003, 19:32 (JST) Source: DENSO Corporation DENSO Corporation www.denso.co.jp/index-e.html <http://www.denso.co.jp/index-e.html> From the Japan Corporate News Network www.japancorp.net <http://www.japancorp.net> Topic: Company reorganization Sectors: Auto Manufacturing, Auto Parts & Equipment © 2003 JCN Newswire. A division of Japan Corporate News Network KK. All rights reserved.