Toyota Industries and DENSO to Establish New Car Air-Conditioning Compressor Production Company in Georgia, USA
Tokyo, Japan, July. 13, 2004 - (JCN Newswire) - Toyota Industries Corporation and DENSO Corporation today announced the companies will jointly establish a company in Georgia, the United States to produce car air-conditioning compressors. The new company – TD AUTOMOTIVE COMPRESSOR GEORGIA, LLC (TDCG)* - will be established this month with an initial capital investment of approximately US$100 million. By 2006, TDCG expects to employ approximately 300 people and by 2010, produce 2 million variable displacement compressors per year. Construction of an approximately 32,000-square-meter (344,000-square-foot) facility is planned to start in August 2004 with the production start scheduled for December 2005. "We will establish the new company to meet the increased demand for variable displacement compressors in the expanding North American market," said Koichi Fukaya, president and CEO of DENSO Corporation. TDCG is the second joint company of TICO and DENSO in North America. The first joint company, Michigan Automotive Compressor, Inc. (MACI), established in 1989, in Michigan, currently produces fixed displacement compressors. The variable displacement compressor can change refrigerant displacement to control air conditioner cooling capability. The fixed displacement compressor has a constant refrigerant displacement and the connection between the compressor and the engine is controlled to adjust the cooling capability. "For the time being, through TDCG and MACI, TICO plans to greatly expand its businesses with DENSO in the North American market by increasing local production of both fixed and variable displacement type compressors, and by building a supply structure that can rapidly respond to customer needs," said Tadashi Ishikawa, president of Toyota Industries Corporation. New Company Profile 1. Name: TD AUTOMOTIVE COMPRESSOR GEORGIA, LLC (TDCG)* 2. Location: Jefferson, Georgia, USA (90km northeast of Atlanta) 3. Establishment: July 2004 4. Start of Operations: December 2005 5. Capital US$100 million 6. Ownership: Toyota Industries North America, Inc., 65 percent Denso International America, Inc., 35 percent 7. Total Investment: approximately US$133 million 8. Business Activities: Manufacture of variable displacement type car air-conditioning compressors 9. Site area: 614,000 m2 (6,600,000 square feet) 10. Building area: 32,000 m2 (344,000 square feet) 11. Employees: approximately 300 (projected for 2006) 12. Unit Production: 2 million units/year (projected for 2010) *Tentative company name 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 95,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2004 totaled US$24.2 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: ?Company_Show.asp?compid=947 <http://?Company_Show.asp?compid=947> About Toyota Industries Corporation With core-business materials handling equipment and car air-conditioning compressors occupying top world market share, Toyota Industries Corporation is a total equipment maker that is expanding its ventures in vehicles, engines, textile machinery and electronics. Fiscal 2003 sales were 1.16 trillion yen. Toyota Industries Corporation is traded on the Tokyo, Osaka, and Nagoya stock exchanges.For further information, please visit the Toyota Industries Corporation home page at: ?Company_Show.asp?compid=3259 <http://?Company_Show.asp?compid=3259> Contact Toyota Industries Corporation Phone: 81-566-27-5157 Fax: 81-566-27-5652 DENSO Corporation Phone: 81-566-25-5594/5592 Fax: 81-566-25-4509