Valeo has agreed to buy an additional 35.9% of the capital of joint ventures it has in Thailand in the area of climate control.
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According to Reuters, Valeo said it would buy the capital in Siam Zexel and Zexel Sales Thailand, taking its ownership of the companies to 74.9%.
It said it was acquiring a 10% stake previously held by Tri Petch Isuzu Sales and a 25.9% stake held by Siam Co.
Reuters said the companies form part of Valeo’s climate-control division, which makes and sells heating, ventilation and air-conditioning systems.
