Valeo says 6 pct margin target for 2010 reachable

Newswire

PARIS, May 21 (Reuters) - A six percent operating margin target for French car parts group Valeo for 2010 is within reach, chairman and chief executive officer Thierry Morin said on Monday. "We can't take it for granted yet but we are on the way," Morin told a shareholders meeting after explaining Valeo's strategy for 2001 to 2010, based on widening its client base, refocusing its supplier base to low-cost countries and an innovative product range. The margin was 3.4 percent in 2006. ...

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