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Japanís Denso Corporation had established a joint venture with Abdul Latif Jameel Co., to produce car air-conditioners in Jeddah
Jeddah, 29th March 2001

   Japanís Denso Corporation, an affiliate of Toyota Motor, said yesterday that the company had established a joint venture with Abdul Latif Jameel Co., a major distributor of Japanese vehicles in the Kingdom, to produce car air-conditioners in Jeddah.

Denso Corporation, the major Japanese manufacturer of car electronic and electrical parts which has the top share of the global car air-conditioner market, said in Tokyo that the total investment is expected to be about $2.5 million. The two companies will each hold a 50 percent stake in the new company.

The new joint venture, Denso Abdul Latif Jameel Co. Ltd., represents Densoís first key production site in the Middle East.

The new production company is expected to contribute significantly to closer ties between Japan and Saudi Arabia, which promotes industrial investment as a national project, Denso said in a statement.

The Japanese company said it chose Abdul Latif Jameel as its partner in Saudi Arabia because the company is the largest enterprise in the country outside the petroleum industry and Denso has supplied automotive components to it.

The new company is scheduled to begin production in October. It plans to produce about 20,000 car air-conditioners annually for Abdul Latif Jameel, which is the sole distributor for Toyota and Lexus in Saudi Arabia.

Source: ArabNewsģ

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29 March 2001 05:28:59 PM

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