DENSO to Establish New Company in Poland to Produce Instrument C
DENSO to Establish New Company in Poland to Produce Instrument Clusters
Kariya, Japan, Mar 28, 2013 - (JCN Newswire) - To strengthen its manufacturing footprint of instrument clusters in Europe, DENSO Corporation will establish a new company that makes instrument clusters in Myslowice, Poland, on April 5, 2013. DENSO's investment in the new company will total 16.1 million Polish zloty (approximately US$5.1 million*), and DENSO expects to employ approximately 70 people by the fiscal year ending March 31, 2016.
The new company, DENSO Poland Sp.zo.o, will start producing instrument clusters in August 2013.
DENSO produces instrument clusters for automobiles in eight countries and regions, and the company will further increase its production capability to meet the needs of customers.
Profile of DENSO Poland 1. Company name: DENSO Poland Sp.zo.o 2. Location: Myslowice, Poland 3. President: Kim Jung Ho (Executive director of DENSO PS Electronics Corporation) 4. Establishment: April 5, 2013 (planned) 5. Capital: 4.6 mil. Polish zloty (approx. US$1.5 mil.*) 6. Ownership: 66.6% owned by DENSO PS Electronics Corporation 33.4% owned by DENSO International Europe B.V. 7. Sales: 104 million Polish zloty (approximately US$33.0 million* planned for fiscal year 2015) 8. Total employees: Approx 70 (planned for FY ending March 2016) 9. Total floor area: Approx 4,500 m2 10. Business: Production of automobile instrument clusters *Exchange rate used is 3.16 Polish zloty to the US one dollar, at the end of February 2013 for convenience only.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electric, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 35 countries and regions (including Japan) and employs over 120,000 people. Consolidated global sales for the fiscal year ending March 31, 2012, totaled US$38.4 billion. Last fiscal year, DENSO spent 9.5 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
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