Paris, May 19, 2010 (ots/PRNewswire) - Valeo today announced that it now
owns 100% of the capital in its electrical systems manufacturing
entity based in Pune, India. Valeo previously held a 66.7% stake and
the N.K. Minda Group 33.3%. The company, which produces alternators
and starters for passenger cars, will be named Valeo Engine and
Electrical Systems India Private Ltd.
This transaction is in line with Valeo's strategy to reinforce
its presence in high-growth emerging countries. Valeo plans to devote
over 60% of its investments to these countries in order to reinforce
its positions, notably in China, India, Brazil, ASEAN, Russia and
The Group has been present in India since 1997. It employs around
1,000 people at four production plants, in Chennai (transmissions and
friction materials) and Pune (security systems and electrical
systems), and at the Valeo Engineering Center India in Chennai. The
production of lighting systems and wiper systems will be launched in
India later this year.
Valeo is an independent industrial Group fully focused on the
design, production and sale of components, integrated systems and
modules for the automotive industry, mainly for CO2 emissions
reduction. Valeo ranks among the world's top automotive suppliers.
The Group has 118 plants, 21 Research centers, 40 Development
centers, 10 distribution platforms and employs 55,100 people in 27
For more information about the Valeo Group and its activities,
please visit our web site http://www.valeo.com.
ots Originaltext: Valeo Management Services
Im Internet recherchierbar: http://www.presseportal.ch
CONTACT: For additional information, please contact: Kate Philipps,
ValeoGroup Communications Director, Tel: +33-1-40-55-20-65; Thierry
Lacorre,Valeo Group Investor Relations Director,Tel: +33-1-40-20-39