As part of its strategy of divesting non-core activities, Valeo Thermal Systems Japan Corp has signed an agreement with Vantec Corp to dispose of Zexel Logitec Company and its subsidiaries.
The Japanese logistics group was acquired in 2000 as part of the Zexel transaction.
Zexel Logitec generated €73 million in consolidated sales in 2005, and employs 345 people.
The deal is expected to close before June 30, 2006.
Valeo is an independent industrial group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks, and ranks among the world's top automotive suppliers.
