Asia PR News

PARIS, Dec. 23 /PRNewswire-AsiaNet/ –

Valeo today announced the signing of an agreement for the acquisition of
50% of Threestar, the largest automotive radiator manufacturer in Korea. The
new entity, in which the Samsung Climate Control Group holds the other 50%,
will be called Valeo Samsung Thermal Systems.

The creation of this joint venture reinforces Valeo’s presence in Korea,
where it already has five production sites and two Research & Development
centers, and is in line with the Group’s strategy of growth in Asia.

The joint venture will essentially develop and manufacture automotive heat
exchangers for local carmakers such as Kia and Hyundai. These carmakers will
therefore benefit from new technologies developed by Valeo, world leader in
engine cooling.

Valeo is an independent industrial Group fully focused on the design,
production and sale of components, integrated systems and modules for cars and
trucks. Valeo ranks among the world’s top automotive suppliers. The Group has
131 plants, 68 R&D centers, 9 distribution centers and employs 72,400 people in
27 countries worldwide.

SOURCE: Valeo

CONTACT: Bruno-Roland Bernard,
Group Communications Director,
+33(0)1-40-55-37-86, or

Remy Dumoulin,
Investor Relations Director,
+33(0)1-40-55-29-30,

both of Valeo