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V. Johnson Enterprises and Valeo form automotive joint venture
DETROIT (Oct. 29, 1:25 p.m. ET) — V. Johnson Enterprises LLC, a firm led by former Detroit Piston Vinnie Johnson, has formed a joint venture with Valeo SA called Detroit Thermal Systems LLC. The new joint venture, which will supply Ford with climate control units, will lease a plant in Romulus, Mich., that will house 30 injection molding presses.