CHENNAI, APRIL 3:
Auto-component company Valeo has forged a joint venture with Anand Group for aftermarket business.
Valeo Service India Auto Parts will distribute automotive products produced by the manufacturing companies of the two groups in the independent aftermarket across India, under the Valeo brand name. The joint venture company will be based in Chennai.Valeo has been as an automotive supplier in India since 1997. It has over 2,000 employees across five production sites in Chennai and Pune and an R&D facility in Chennai.
With the joint venture, Valeo is targeting the “fast-growing” automotive independent aftermarket business in India, said a press release.
Valeo manufactures clutches, friction materials, lighting systems, security systems, starters and alternators. The Anand group makes automotive systems and components.
(Source : http://www.thehindubusinessline.com/companies/article3277185.ece?homepage=true&ref=wl_home)
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