Edition:
India

Valeo Announces Agreement With South Korean Partner, PHC


Thursday, 30 Nov 2017 

Nov 30 (Reuters) - VALEO ::SIGNED AGREEMENT WITH SOUTH KOREAN PARTNER, PHC, TO CREATE JOINT VENTURE‍​.VALEO AND PHC TODAY CONFIRMED THAT TRANSACTION HAS BEEN COMPLETED.COMPANY WILL EMPLOY ABOUT 3,150 PEOPLE AND WILL BE CONTROLLED AND FULLY CONSOLIDATED BY VALEO.COMPANY FORECAST TO GENERATE SALES OF AROUND 1 BILLION EUROS ON AN ANNUAL BASIS.COMPANY WILL BE ACCRETIVE TO VALEO’S OPERATING MARGIN FROM ITS FIRST FISCAL YEAR.