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New reefer supplier
Kingtec Technologies and Denso Corporation have formed a joint-venture company to design and market transport refrigeration systems, including reefer machinery.
Kingtec is headquartered in the US, and the new 50:50 joint venture is between its Chinese subsidiary Kingtec Technologies (Heyuan) Co., Ltd and Denso Corporation of Japan. The new company is called “Guangdong KINGTEC DENSO Refrigeration Equipment Co., Ltd” and was formed in March 2016, with an investment of approximately US$4.8M.
“The purpose of the joint venture is to combine Kingtec’s diversified product line and cost competitiveness with Denso’s outstanding technologies and unparalleled quality. This will enable Denso to strengthen its refrigerator development and sales and contribute to improving food safety and reliability in China, as well as acquire the foothold it needs to expand its cold chain business worldwide,” Denso said in a statement.
Kingtec added that the new company will produce products for China and abroad, including refrigeration systems for vehicles, trailers, reefer containers and cold stores, as well as air conditioning systems. Products are expected to be on the market from May.
Denso has been previously linked to CIMC, as the supplier of an integrated reefer that CIMC planned, at one stage, to launch on the market.
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This complete item is approximately 300 words in length, and appeared in the April 2016 issue of WorldCargo News, on page 14. To access this issue download the PDF here.
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