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BRIEF-Valeo Announces Agreement With South Korean Partner, PHC
November 30, 2017 / 4:55 PM / in 13 days

BRIEF-Valeo Announces Agreement With South Korean Partner, PHC

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 Source text: bit.ly/2irVoWA Further company coverage: (Gdynia Newsroom)

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