Denso Corporation has agreed with Doowon Climate Control, the second-largest car air conditioning system manufacturer in South Korea, to dissolve their capital alliance.
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“Since October 2002, Denso has held a 33.4% stake in Doowon Climate Control,” said Nobuaki Katoh, senior managing director responsible for corporate centre and the thermal systems business group at 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.”
