Valeo to build parts in Iran via JV TEHRAN — Valeo SpA signs a letter of intent to build climate control components in Iran in a joint venture with Iran Khodro's Sapco and Iran Radiator. Valeo will hold 34% of the company with Iran Radiator holding 34% and Sapco holding 32%. Valeo will have an option to increase its stake to 51%. The JV will supply Iran Khodro, the country's largest automaker, which builds Peugeot 405 models and will soon add the Peugeot 206. The JV, which will employ 300 ...

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