| DENSO Corporation will establish a new company in Tangier, Northern Morocco, Africa, to produce car air conditioning systems on April 1. The construction of its plant is scheduled to be completed in April 2011. The new company, DENSO Thermal Systems Morocco S.A.R.L., will start operations in December of the same year. The company is capitalized at 2.5 million euro and will invest up to 11.4 million euro by fiscal year 2011. DENSO Thermal Systems Morocco is expected to post sales of 12 million euro in fiscal year 2013. The new company is DENSO's second production base in Africa and will offer car air conditioning systems to plants of automakers in the country. |
Profile of DENSO Thermal Systems S.p.A.
| 1. | Name | : | DENSO Thermal Systems S.p.A. |
| 2. | Location | : | Poirino, Italy (suburbs of Torino) |
| 3. | President | : | Manfredo Nicolelli |
| 4. | Establishment | : | March 2001 |
| 5. | Capital | : | 170.9 million euro |
| 6. | Ownership | : | 100 percent owned by DENSO International Europe B.V. |
| 7. | Sales | : | 550.9 million euro |
| 8. | Employees | : | 2,620 |
| 9. | Business description | : | Production and sales of car air conditioning systems, heaters, radiators, and other products |