PARIS, October 2 /PRNewswire/ -- Valeo announced today that it has created a joint venture with the Anand Group for the production of lighting systems in India. The new company, called Valeo Lighting Systems India Private Limited, will be majority-owned by Valeo.
Located in Chennai, the joint venture will develop, produce and sell Valeo Lighting Systems products, including headlamps, rear lamps and fog lamps, for automakers serving the fast-growing Indian market.
Valeo has been present in India since 1997, when it created two joint ventures for the production of clutches and clutch facings in Chennai, where the Group also has an engineering center. Two additional joint ventures were created in Pune in 2007, one manufacturing security systems and the other, alternators and starter motors.
India produced over 2 million vehicles in 2007 and is expected to double its output by 2015.
Valeo is an independent industrial group dedicated to the design, production and sale of components, integrated systems and modules for cars and trucks. It is one of the world's leading automotive suppliers. The Group has 122 production sites, 61 R&D centers, 9 distribution platforms, and employs 59,700 people in 28 countries worldwide.
The Anand Group is one of the leading manufacturers of automotive systems in India, with sales of 25 billion Indian rupees (over 425 million euros).
For more information about the Group and its activities, please visit our web site http://www.valeo.com
For all additional information, please contact: Antoine Balas, Corporate Communications, Tel: +33-1-40-55-29-36; Remy Dumoulin, Investor Relations, Tel: +33-1-40-55-29-30
