Valeo and Minda form joint venture in India

Valeo said its Security Systems branch has formed a 50/50 joint venture with A.K. Minda Group, a manufacturer of automotive security systems in India.

Located in Pune, near Mumbai, 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. It will also integrate Minda’s existing four-wheel drive security systems division. The joint venture is expected to reach sales of €50 million in 2010.