Expansion to Create 300 Additional Jobs by 2010 With New Investment Totaling US$63.7 Million
With this expansion, DENSO Manufacturing Canada will produce radiators, condensers and electric fans and integrate these products into engine cooling modules. The company will also continue producing air conditioning units.
"With increasing demand and sales expansion in North America for engine cooling products, we decided to enhance our production capability in Canada," said Hikaru Sugi, managing officer in charge of DENSO's Thermal Systems Business Group. "We anticipate the company's sales to increase to approximately US$240 million by fiscal year 2010, from US$128 million for fiscal year 2006."
Construction of the expansion is scheduled to begin in June 2007 and be completed by September 2008. Production is scheduled to start in January 2009.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs approximately 112,000 people in 32 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2007 totaled US$30.6 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan. For more information, go to www.globaldenso.com or visit our media website at www.densomediacenter.com.
In the Americas, DENSO employs more than 17,000 people with consolidated sales (includes Canadian sales) totaling US$6.5 billion for the fiscal year ended March 31, 2007. For more information, go to www.densomedia-na.com.
Company Profile 1. Name: DENSO Manufacturing Canada, Inc. 2. Established: December 1972 3. Location: Guelph, Ontario, Canada 4. Capital: US$46.5 million (after capital increase) 5. Ownership: 100 percent by DENSO Corporation 6. President: Joseph Stich 7. Products: air conditioning units (as of May 2007) 8. Employees: Approximately 290 (as of the end of April 2007) Approximately 590 (projected total by 2010) 9. Building floor Area: 112,442 square feet or 10,450 square meters (before expansion) Building floor Area: 326,351 square feet or 30,330 square meters (after expansion)
Exchange rate used is US$1=120 yen, the approximate exchange rate prevailing on April 30, 2007.