PARIS — Valeo has signed an agreement to acquire 50 percent of Threestar, the largest automotive radiator manufacturer in Korea. The new entity, in which the Samsung Climate Control Group holds the other 50 percent, will be called Valeo Samsung Thermal Systems.
Officials at Valeo said the creation of this joint venture reinforces the company’s presence in Korea, where it already has five production sites and two research and development centers. The acquisition is in line with the group’s strategy of growth in Asia.
The joint venture will develop and manufacture automotive heat exchangers for local carmakers such as Kia and Hyundai.
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