SOUTHFIELD, MI — Japan-based DENSO Corporation, parent company of DENSO International America, Inc., says it has reached an agreement with Magneti Marelli S.p.A. of Milan, Italy, that will give DENSO the exclusive right to negotiate for the purchase of Magneti Marelli’s Thermal Systems Division.

“DENSO decided to acquire the Italian firm’s air-conditioning unit based on its projections of increased sales of air-conditioners in Europe, particularly in compact cars,” said DENSO president and ceo Hiromu Okabe. DENSO is already considered to be one of the world’s top makers of automotive air-conditioning equipment, with a market share of approximately 22% in 1999.

Publication date: 12/18/2000