DENSO Announces Second Major Expansion of Kentucky Manufacturing Facility
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1-1 Showa-cho Kariya
Press release date: August 7, 2006
TOKYO - New investment dollars and more jobs are coming to Kentucky's Montgomery County.
Global automotive supplier DENSO Corporation today announced KYOSAN DENSO Manufacturing Kentucky, DENSO's subsidiary in Mt. Sterling, Ky., plans to expand its 80,700-square-foot facility by 84,500 square feet. The investment totals US$27.1 million and will create approximately 150 new jobs by 2010. Due to the expansion, capital was increased US$16 million last month.
"With this expansion, we will be able to increase our production of automotive fuel pump modules and their components, including fuel filters and flanges," said KYOSAN DENSO President Shunichiro Hiromasa. "We aim to increase sales to US$160 million by fiscal year 2010, from US$74 million in fiscal year 2005."
Construction of the new facility is scheduled to begin in August and be completed by March 2007. Production is scheduled to start in June 2007.
KYOSAN DENSO assembles automotive fuel system components, fuel pump modules and on-board refueling vapor recovery valves for North American car manufacturers.
KYOSAN DENSO Manufacturing Kentucky is a joint venture between Kyosan Denki America, Inc. and DENSO International America, Inc. Kyosan Denki America owns 70 percent of the limited liability partnership and DENSO, 30 percent.
Kyosan Denki America is a subsidiary of Kyosan Denki Co., Ltd., headquartered in Ibaraki prefecture, Japan. Kyosan Denki, which produces components for fuel supply systems, fuel filtration systems and fuel control systems for the automotive industry, employs 1,515 people worldwide. Consolidated net sales for the fiscal year ended March 31, 2006 totaled US$341 million.
DENSO International America is the North American headquarters for DENSO Corporation, a leading global supplier of advanced technology, systems and components. Headquartered in Kariya, Aichi prefecture, Japan, DENSO employs 106,000 people in 32 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2006 totaled US$27.3 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan. In the Americas, DENSO employs 16,000 people at 38 companies with consolidated sales for the above fiscal year totaling US$5.8 billion.
o Name: KYOSAN DENSO Manufacturing Kentucky, LLC o Established: April 1, 2003 o Location: Mt. Sterling, Ky. (35 miles east/northeast of Lexington, Ky.) o Capital: US$26.8 million (after capital increase) o Ownership:70 percent Kyosan Denki America, Inc. 30 percent DENSO International America, Inc. o President: Shunichiro Hiromasa o Products: Automotive fuel system components, fuel pump modules, onboard refueling vapor recovery valves o Sales: US$74 million (fiscal year 2005) o Associates: Currently 280; projected total by 2010: 430 o Site Area: No change from current 14.4 acres o Building Area: Currently 80,700 square feet; total of 165,200 square feet projected by 2010
Contact: Julie Kerr (248) 372-8260 firstname.lastname@example.org