PARIS -- Valeo will sell its propulsion systems business in Russia to Russian company NPK Avtopribor.
Valeo said this sale would not incur any capital gain or loss.
The supplier said its sales in Russia previously represented less than 1 percent of group turnover, and the related assets being sold off were depreciated in 2022 for 43 million euros ($46.8 million).
Valeo ranks No. 12 on the Automotive News Europe list of the top 100 global suppliers with worldwide sales to automakers of $17.6 billion in 2022.
