HIGHLIGHTS-French corporate chiefs hope economic clouds pass

PALAISEAU, France, Aug 28 (Reuters) - Following are comments by government and business leaders attending an annual conference organised by French employer organisation Medef, the country's top business lobby.

The comments were made on the campus of the prestigious Ecole Polytechnique in Palaiseau, just outside of Paris.

ON BUSINESS IN RUSSIA

Thierry Morin, chief executive of auto components maker Valeo (VLOF.PA):

Asked if the situation in Russia/Georgia could change Valeo's strategy in Russia: "No, no. Valeo works calmly and for the long term. We're there for the long term."

"We already have two (car component) partnership agreements signed. I announced that we would have five partnership agreements signed by the end of the year. They are joint ventures but Valeo is main shareholder. That won't change.

"I want Valeo to be present in Russia in all its business segments by the end of next year. You see, it's a blistering pace."

Remy Robinet-Duffo, President of MEDEF Paris:

"I don't think this will change the strategy of large French companies which have a long-term view, like most big firms. But I think this (political crisis) could raise the fears for smaller companies."

ON THE GLOBAL BUSINESS ENVIRONMENT

Franck Riboud, chief executive of yoghurt giant Danone (DANO.PA):

"Technically we may not be in a recession, but consumption is slowing everywhere -- Spain is a catastrophe and the United States is terrible. What really matters is companies' ability to react. For a company like Danone, what's important is the reaction but also preparation for the end of the bad cycle, the ability to pull out of crisis better than our competitors."