© Reuters. Valeo: finalizing the creation of a joint venture in Co
Valeo (PA:VLOF) has reported on Thursday evening, having obtained the regulatory authorizations necessary to the creation of a joint venture with the south Korean group PHC Group.
The 2 companies had signed an agreement last February for the creation of a joint venture destined to become the world leader in the field of torque converters for automatic transmissions boxes and to continuous transmission.
The company, which employs approximately 3.150 employees, will be controlled and therefore consolidated by global integration into the accounts of Valeo. It is expected to achieve a turnover of around a billion euros on an annual basis and will be accretive from the first year on the operating margin of the automotive supplier French.
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