Valeo sees higher operating margin in 2011

Newswire

PARIS, Feb 24 (Reuters) - French car parts maker Valeo said it expected its operating margin to rise in 2011 after it swung back to a net profit in 2010. The group forecast 2011 global automotive market growth of 5 percent on Thursday. Demand for cars is growing strongly in emerging regions like China, Latin America and Russia, offsetting stagnant European markets. Valeo said full-year sales rose to 9.63 billion euros ($13.29 billion) from 7.499 billion in 2009, while its 2010 operating ...

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