As part of its strategy of divesting non-core activities, Valeo Thermal Systems Japan Corporation has signed an agreement with Vantec Corporation to dispose of Zexel Logitec Company and its subsidiaries, the Japanese logistics group which was acquired in 2000 as part of the Zexel transaction.

In 2005 Zexel Logitec Company had consolidated sales of EUR73m and employed 345 people.

The deal is expected to close before 30 June.