2007
Contract signed with Sunpot Co., Ltd. for transfer of oil heater production and technology
July 18, 2007
Sanden Corporation finalized an agreement with Sunpot Co., Ltd. on May 11, 2007, upon reaching a basic agreement in transferring the manufacturing and technology of oil heaters that we produce and sell ("ZETUS"). Since the start of sales of pot-type oil heaters in 1963, we have positioned our oil heater business as a main part of our living and environment systems business; but upon considering the changing management environment including recent changes in the structure of energy demand along with diversification of customer needs, we have decided on transferring the business to Sunpot Co., Ltd.
The repair, service, and repair parts of the applicable products will be provided as before in accordance with our company provisions. Production and sales of other oil-related products will continue at our company.
Sanden Corporation plans to focus its management resources into environment-related business fields. We aim for further business growth utilizing the company's strengths in compressor technology and in its extensive service and maintenance network, in order to transform the business structure towards the effort to create innovative and comfortable living spaces.
Products included in the scope of the transfer
Name: Sanden oil heater (ZETUS)
Model: FF-70SX, FF-70RX, UF-70SX, UF-70RX, FF-43SX
Sunpot Co., Ltd.
Location: 1-26 Daini-jiwari, Kitayuguchi, Hanamaki-shi, Iwate, 025-0301 Japan
Established: April 1, 1965
Capitalization: 962.2 million yen (as of September 30, 2006)
Representative: Kozo Sakauchi, President & Representative Director
Employees: 216 (as of September 30, 2006)
Primary Business: Production and sales of oil heaters and water heating systems equipment
