Valeo and Pyeong Hwa Group form torque converter joint venture Valeo-Kapec

Valeo and South Korean partner Pyeong Hwa Group agreed to create the Valeo-Kapec joint venture, combining their torque converter businesses. The company, headquartered in Daegu, will be controlled and fully consolidated by Valeo and is expected to generate around EUR 1 billion in annual sales, subject to regulatory approval.

“Valeo-Kapec, headquartered in Daegu in South Korea, will have a global manufacturing footprint to become the world leader in torque converters.”valeo.com

• 1 source
• valeo.comValeo: agreement with South Korean partner Pyeong Hwa GroupFeb 6, 2017

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