Denso Corporation has established a new wholly-owned holding company which will function as a regional headquarters in China. Located in Beijing, China, Denso (China) Investment Co., Ltd. was established in February 2003.
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Currently, Denso operates six manufacturing companies in China that manufacture products for the Chinese vehicle industry, including car air conditioners and electric components. Ownership of the six companies will be transferred to the new company by the end of March 2004.
“We hope by consolidating and strengthening all sales functions within one company, it will create a framework for sales expansion. In addition, Denso plans to integrate administrative functions including accounting, information systems and logistical affairs to establish a more efficient business operation over the next three years,” said a spokesman.
He added: “By 2010, China is forecasted to more than double the 3.25 million vehicle output of 2002. Such predictions also are expected to see dramatic growth, possibly making China the largest car producing country in the world next to America and Japan. Our customers are already expanding their businesses in this fast-growing market. We recognise the urgent need to enhance our sales and supply systems in China.”
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