Valeo Security Systems Creates Joint Venture in India With Minda

Paris (ots/PRNewswire) - Valeo announced today that its Security
Systems Branch has created a 50/50 joint venture with A.K. Minda
Group, a leading manufacturer of automotive security systems in
India.

Located in Pune near Mumbai, the new company, Valeo Minda Security
Systems, will develop, produce and sell Valeo Security Systems
products including locksets, steering column locks, latches,
strikers, handles, engine immobilizers and remote keyless entry
systems. The joint venture will integrate the existing four-wheel
drive security systems division of Minda and is expected to reach
around 50 million euros in annual sales in 2010.

Thierry Morin, Valeo Chairman & CEO, said, "India is growing and
modernizing at a rapid pace, creating great opportunities for global
and local car makers as well as automotive suppliers. Valeo already
operates two joint ventures in India and will continue to expand its
presence in the country."

Ashok Minda, Minda Group Chairman said, "Combining Minda Group's
strong customer relationship and long experience with Indian car
makers together with Valeo's technology solutions and industrial
excellence, will deliver considerable value to customers."

A.K. Minda Group is one of the leading manufacturers of automotive
security systems in India. The Group has 18 plants in India and
overseas including Indonesia, Germany, one office in Japan and a
logistic center in the Netherlands. The AK Minda Group today has a
turnover of 5,500 million Indian rupees (over 100 million euros).

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.

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