Valeo in security system venture with Minda

Newswire

PARIS, May 31 (Reuters) - French car parts group Valeo said on Thursday it had created a security systems joint venture in India with A.K. Minda Group of India. The joint venture will make products such as locksets, steering column locks, engine immobilisers and remote keyless entry systems. It is expected to generate sales of 50 million euros ($67.11 million) a year by 2010.

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