Valeo is the company behind the successful manufacturing of components, integrated systems and modules for cars across India. Recently, it was announced that the company has acquired 100% stake in its electrical systems manufacturing entity based in Pune, India. Earlier, Valeo had a 66.7% share in the entity before this and it was N.K. Minda Group that held the remaining stake. The company which would now also produce alternators and starters for the passenger car segment in India would be named Valeo Engine and Electrical Systems India Private Ltd. sources suggest.
The news comes as a part of Valeo's strategy to reinforce and establish its presence in the high-growth and emerging countries. It is also assumed that the company would invest at least 60% of its investments to these developing countries that mainly include China, India, Brazil, ASEAN, Russia and Turkey.
In addition to the above mentioned line of products, the newly acquired venture would also be involved in the manufacture of lighting systems and wiper systems. The same is expected to be launched in the later half of 2010.
Valeo has had its presence since 1997 and gives work to approximately 1,000 employees as of now. The company has four production plants in India in addition to 118 plants, 21 Research centers, 40 Development centers, 10 distribution platforms and employs 55,100 people in 27 countries worldwide. Hope the newly acquired stake proves beneficial to the car market in India.
Source:- Valeo gets 100% stake in Electrical Systems India - New Cars
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