Showa Denko K.K. (SDK) to Expand Automotive Heat Exchanger Business in China
<http://www.japancorp.net> Showa Denko K.K. (SDK) to Expand Automotive Heat Exchanger Business in China Tokyo, Japan, Apr 24, 2007 - (JCN Newswire) - Showa Denko K.K. (SDK) has decided to expand its automotive heat exchanger business in China by increasing its equity participation in Grand Ocean-Showa Auto Air Conditioning (Dalian) Co., Ltd. from 35% at present to 55%, and by increasing production capacity and starting to produce innovative NRT III(TM) condensers there. Specifically, SDK will inject new capital in Grand Ocean-Showa, making it a consolidated subsidiary. The new capital will enable Grand Ocean-Showa to nearly double its production capacity by the end of this year through additions of major equipment and remodeling of the building. Furthermore, Grand Ocean-Showa will start producing NRT III(TM) condensers for car air conditioners, with around 20% higher performance compared with existing condensers. NRT stands for "new refrigerant tube," produced by a roll-forming process in which rolled aluminum sheets are folded and joined, enabling the production of smaller, high-performance components. In November 2004, SDK participated in the growing automotive heat exchanger market in China by investing in Grand Ocean Auto Air Conditioning Engineering (Dalian) Co., Ltd. The joint venture, now called Grand Ocean-Showa, is producing high-performance heat exchangers based on SDK technology, selling the products to customers within the Volkswagen Group and other customers in China. Upon completion of the capacity expansion, Grand Ocean-Showa will start supplying its products to Japanese automakers strengthening their operations in China, in addition to existing customers. SDK is producing heat exchangers for car air conditioners in Oyama, Japan; Ohio, the United States; Thailand; and the Czech Republic, in response to the globalization of automobile makers. Fully utilizing its core aluminum fabricating technology, SDK will continue to develop high-performance and environment-friendly heat exchangers at its Oyama site. Profile of Grand Ocean-Showa Auto Air Conditioning (Dalian) Co., Ltd. Head office: Dalian Economic & Technology Development Zone, Dalian, China Chairman: Takumi Ui General Manager: Tsunetaka Kadoguchi Establishment: 1993 Capital: US$15.1 million Shareholders: Showa Denko K.K.: 55% (35%, before the capital increase) Grand Ocean Manufacturing Co., Ltd.: 25% (40%) Dalian Refrigeration Co., Ltd.: 20% (25%) Annual sales: 107 million yuan (2007 forecast) Employees: 195 (as of April 2007) Showa Denko K.K. Showa Denko K.K. ('SDK'; TSE: 4004, US: SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. SDK makes petrochemicals (ethylene, propylene), aluminum products (ingots, rods), electronic equipment (hard disks for computers) and inorganic materials (ceramics, carbons). The company has overseas operations and a joint venture with Netherlands-based Montell and Nippon Petrochemicals to make and market polypropylenes. In March 2001, SDK merged with Showa Denko Aluminum Corporation to strengthen the high-value-added fabricated aluminum products operations, and is today developing next-generation optical communications-use wafers. For more information, please visit www.sdk.co.jp. Contact: Showa Denko K.K. Nobuhiro Kato nobuhiro_kato@sdk.co.jp +81-3-5470-3235 _____ 2007-04-24 11:29 Source: Showa Denko K.K.(XETRA: SWD) (ZOBEX: SWD) (EUREX: SWD) (MUNICH: SWD) (PNK: SHWDF) www.sdk.co.jp/html/english/index.html <http://www.sdk.co.jp/html/english/index.html> Showa Denko K.K. <http://www.japancorp.net/company_show.asp?compid=1825> @ JCN Newswire From the Japan Corporate News Network www.japancorp.net <http://www.japancorp.net> Topics: Press release summary Sectors: Auto Manufacturing, Metals, Manufacturing, Trade & Commerce, Auto, Chemicals If you believe you have received this news in error or would like to be removed from our mailing list please click here <https://www.japancorp.net/unsubscribe.asp> (https://www.japancorp.net/unsubscribe.asp) and you will be removed from our mailing list. If you have difficulty viewing our News Alerts in HTML format you can change your settings click here <https://www.japancorp.net/changeregister.asp> (https://www.japancorp.net/changeregister.asp). Copyright(C) 2007 JCN Newswire. A division of Japan Corporate News Network KK. All rights reserved.