EQT Partners set to acquire Valeo division

Valeo has announced that it will cede its heavy duty truck engine cooling division to Swedish private equity house EQT Partners AB.

Valeo will divest all three manufacturing sites based in Jamestown in the US, and Mjallby and Linkoping in Sweden. The division supplies engine cooling modules and other powertrain cooling components to manufacturers of large buses, trucks and industrial diesel engines. The division generated sales of EUR176 m in 2007 and employs 900 people worldwide. The deal reflects Valeo's strategy to sell its non-core businesses in order to focus its activity on passenger cars and light trucks. The deal is subject to consultation with the employee representative committees and approval by the antitrust authorities.

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