Valeo Creates a New Joint Venture in India With Minda for the Production of Alternators and Starter Motors

Paris (ots/PRNewswire) - Valeo announced today that it has created
a joint venture for the production of alternators and starter motors
with N.K. Minda Group, a leading manufacturer of automotive systems
in India. The new company, called Valeo Minda Electrical Systems
India Private Limited, will be 66.7% owned by Valeo and 33.3% by
Minda.

Located in Pune near Mumbai, the joint venture will develop,
produce and sell Valeo Electrical Systems products, including
alternators and starter motors for passenger cars. The total market
for these products in India is currently estimated to be around 1.5
million units per year and is growing at an annual rate of around 9%.
The joint venture targets 50 million euros in sales as of 2010.

Earlier this year, Valeo announced the creation of a 50/50 joint
venture with A.K. Minda Group, to develop, produce and sell Valeo
Security Systems products in Pune. The Group also operates two other
joint ventures in Chennai for the production of clutches and friction
materials.

Thierry Morin, Valeo Chairman and CEO, said: "This is the second
joint venture we have created in India this year. Expanding our
presence in India demonstrates our belief in the growth potential of
this market and our willingness to support a fast-developing local
automotive industry."

Nirmal K. Minda, N.K. Minda Group Chairman, said: "N.K. Minda
Group is very happy to announce its joint venture with Valeo, which
is a leading global automotive supplier and renowned for its strong
focus on quality and technology. We believe that this is the start of
a long relationship that will enable us to better serve our OEM
customers."

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 131 production sites, 68 R&D centers, 9
distribution platforms, and employs 71,100 people in 29 countries
worldwide.

N.K. Minda Group is one of the leading manufacturers of automotive
systems in India. The N.K. Minda Group today has a turnover of 8.3
billion Indian rupees (over 185 million euros).

For more information about the Group and its activities, please
visit our web site www.valeo.com.

For all additional information, please contact:
Antoine Balas, Corporate Communications
Tel: +33-1-40-55-29-36
Rémy Dumoulin, Investor Relations
Tel: +33-1-40-55-29-30

ots Originaltext: Valeo Management Services
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For all additional information, please contact: Antoine Balas,
Corporate Communications, Tel: +33-1-40-55-29-36; Rémy Dumoulin,
Investor Relations, Tel: +33-1-40-55-29-30


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