DENSO Corp. has formed a 50/50 joint venture with Kingtec Technologies (Heyuan) Co. Ltd., a China-based company that develops, designs, manufactures and sells truck refrigeration in China and other parts of the world.
The joint venture company, named Guangdong KINGTEC DENSO Refrigeration Equipment Co. Ltd, will mainly provide products used in transportation vehicles, including trucks and trailers. Located in Heyuan City, Guangdong Province, People’s Republic of China, it also will explore the possibility of providing products for storage and other services needed for transportation. The new company is capitalized at 30 million yuan (approximately $4.8 million USD), half of which will financed by DENSO (CHINA) Investment Co. Ltd., DENSO’s regional headquarters in China. Production will begin in May 2016.