DENSO dissolves capital alliance with Doowon climate control in South Korea

DENSO Corporation recently announced that it reached an agreement with Doowon Climate Control Co., Ltd., the second-largest car air conditioning system manufacturer in South Korea, to dissolve their capital alliance.

“Since October 2002, DENSO has held a 33.4 percent stake in Doowon Climate Control,” says Nobuaki Katoh, senior managing director responsible for Corporate Center and the Thermal Systems Business Group of DENSO. “However, due to significant changes in the business environment for the two companies over the past five years, we decided to end the capital partnership.”

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 totaled $30.6 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan. For more information, visit www.globaldenso.com.