DENSO Acquires Italian Aftermarket Distribution Company for Automotive Climate Control Components
DENSO aims to expand its European business with existing business
KARIYA (Japan) ― DENSO Corporation acquired all shares of CTR s.r.l, an aftermarket commercial company with locations in Italy, Spain and France that distributes various automotive climate control components, such as compressors, HVAC components and heat exchangers. CTR was a subsidiary of Finber S.p.A., a European-based company that develops, manufactures and sells automotive components and other products. The acquisition was completed on June 1, 2010.
“We believe that CTR and the Aftermarket Business Unit of DENSO Thermal Systems will complement each other’s existing products and distribution networks,” said Akio Shikamura, managing officer responsible for DENSO’s Thermal Systems Business Group. “With this advantage, DENSO aims to expand the group business and diversify its thermal aftermarket product portfolio.”
CTR is an aftermarket commercial company that offers a wide range of products and equipment including its own brands, and has a strong distribution and service network. In Italy, where its head office is located, CTR provides its dealers quality service including next morning delivery system upon receipt of an urgent order, and various in-depth technical training programs. Based on its extensive services, the company owns leading market shares of aftermarket sales of automotive climate control components in the country.
Without changing the company and brand name, CTR is now a subsidiary of Italian-based DENSO Thermal Systems (DNTS), which develops, manufactures and sells automotive engine cooling and climate control systems along with other thermal products to areas all over Europe and South America. The current management and organization continues to operate the company, and the head office and its warehouses, and other facilities are continually being used.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world’s major carmakers. Worldwide, the company employs approximately 120,000 people in 34 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2010 totaled US$32.0 billion. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.