Valeo-Kapec Establishment is Officially Confirmed
It has been known for a long period of time that Valeo, the French producer and supplier of auto components and spare parts, has established a 50:50 venture with the Korean company PHC Group. But only recently the official endorsement has been granted after solving all regulatory issues and the deal has been offically confirmed by Valeo officials.
Located in South Korea, PHC Group is a long-time business partner of Valeo in the auto business. A new company is named as Valeo-Kapec and it will be specialized in manufacturing of torque converters for automatic gearboxes and CVTs. It is expected that the company will provide jobs for more than 3 thousand specialists. Valeo aims high and plans to make Valeo-Kapec a standard-bearer in manufacturing of torque converters and receive high returns from sales (about 1 billion euro annually). Moreover, this step is a great opportunity for Valeo to become more commertially viable in Asia and be more efficient in R&D of new products.
