New York investment fund Pardus will on Monday launch a fresh drive to try to force French automotive equipment maker Valeo to change its strategy and give it a seat on the board, the Financial Times’ sister paper, Les Echos, has learned.

In a new letter to the board of Valeo, Karim Samii, Pardus chief executive, will demand board representation at Valeo and a meeting to study strategic proposals designed to enhance the company’s profitability.

The approach is part of an effort by Pardus, which owns 20 per cent of Valeo and 17 per cent of US car parts maker Visteon, to push Valeo into participating in global consolidation of the automotive parts industry, which has suffered a decade of falling sales and profits as car assemblers drive down parts prices.

Since Pardus began stakebuilding in Valeo at the beginning of the year, the parts maker’s management has firmly rebuffed every approach by Pardus.

In an interview, Mr Samii denied any plan to force Valeo and Visteon into a merger, but said he would be happy to help any such consolidation if desired.

Pardus believes that Valeo should pursue a dual strategy, said Mr Samii. It should sell businesses in which it is not a leader, and focus on markets where it can become a global champion.

“Valeo must become a focused leader, not a car parts supermarket,” he said.