# PHC Group and Valeo combine global torque converter businesses in joint venture

PHC Group and Valeo agreed to combine their global torque converter businesses through a joint venture, KAPEC, with PHC's four foreign subsidiaries becoming wholly-owned subsidiaries of KAPEC.

- Type: Acquisition
- Announced: 2017-11-30
- Status: completed
- Products: torque converters
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Valeo](https://endata.com/companies/655.md) (partner)
- [PHC Group](https://endata.com/companies/2478.md) (partner)

## Sources

- [yulchon.com](https://www.yulchon.com/en/resources/deals-and-cases-view/4803/page.do), 2017-11-30: "reached an understanding with Valeo Group (“Valeo”), also a global automotive supplier headquartered in France, to combine their global torque converter businesses."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.