Valeo sees rise in 2003 operating margin


PARIS, April 23 (Reuters) - French car parts maker Valeo said on Wednesday it expected to increase its 2003 operating margin with sales growth seen in line with the market. "Valeo will improve (its operating margin) in 2003 compared to 2002," Chairman Thierry Morin told reporters. The company showed an operating margin of five percent in 2002. Previously, Morin had said that an operating margin of six percent would be "a good target." Morin also confirmed that Valeo's loss-making U.S. ...

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