Subros Limited (Headquarters: New Delhi, India; Managing Director: Shradha Suri Marwah) and DENSO Corporation (Headquarters: Kariya, Japan; President: Nobuaki Katoh) have agreed to form a joint venture to design automobile air conditioning systems and other devices. The new company, DENSO Subros Thermal Engineering Center India Limited (tentative name), will be established in 2010, with 26% by Subros and 74% owned by DENSO.

“The new Joint venture company will further enhance Design and Development capabilities of Subros to provide complete technical solutions in Thermal Business and also to enhance technical capability to support new Product/Business Development for the satisfaction of it’s ultimate customers.” said Mr. Ramesh Suri, Chairman, Subros Limited.

Subros Limited, Founded in 1985 as a joint venture public limited company with 40% ownership by Suri family of India and 13% ownership by DENSO & Suzuki each, is the leading air conditioning system manufacturer in India, in technical collaboration with DENSO. Its major customers include Maruti Suzuki India Limited, Tata Motor Limited, Mahindra & Mahindra Limited and turnover of Rs.9.83 Billion in 2010.

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.

The new joint venture, which will be supported by DENSO to provide application design services, will design automobile air conditioners and other systems for Subros & DENSO group companies. The new joint venture with support from DENSO will offer better technical support to its Indian counterparts & ultimately to the local auto manufacturers to improve the competitiveness of DENSO and Subros.

The profile of the new joint venture is as follows.

	Name (tentative): DENSO Subros Thermal Engineering Center India Limited
	Location: Noida, India (on the outskirts of New Delhi)
	President: Katsuyuki Osaki (current Chief Engineer of Air-conditioning Eng. Dept. 2, DENSO Corporation)
	Establishment: September 2010
	Capital: 68 million rupees (approx. 136 million yen)
	Ownership: 74% owned by DENSO and 26% by Subros
	Investment: 136 million rupees
	Employees: Approx. 40 (projected for 2010)
	Business description: Application Design Services for automobile air conditioning, thermal engineering systems and other equipment

Inquiries about this press release:    Subros Limited,    Name : Mr. Vikas Sabharwal    Phone: +01123414946/7/8    email:- vikas.sabharwal@subros.com