Valeo Management Services

Valeo Announces a Plan to Close its Facility in Orense, Spain

Paris (ots/PRNewswire) - Valeo today announced that it has called for a meeting of the Works Council of its facility in Orense, Spain to discuss the proposed closure of the site. The facility is part of the Electronics and Connective Systems Branch and manufactures wiring harnesses. Despite the measures put in place in 2002 and 2003 to preserve employment at the site, the economic situation has continued to worsen. The facility, which employs 234 people, cannot be competitive as compared with production of these products in lower cost countries, and it is now envisaged to close the plant. The manufacturing of the products, some of which are reaching their end of life, will be transferred to other sites within the Branch. The plan will include the necessary measures to find alternative jobs for affected employees through internal and external redeployment activities: some production will be transferred to the neighboring site of Porriño and the reindustrialization of the Orense site will be a priority. Valeo is an independent industrial group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks. Valeo ranks among the world's top automotive suppliers. The Group has 130 plants, 65 R&D centers, 9 distribution centers and employs 70,200 people in 26 countries worldwide. ots Originaltext: Valeo Im Internet recherchierbar: http://www.newsaktuell.ch Contact: Contact presse : Kate Philipps, + 33-1-40-55-20-65, kate.philipps@valeo.com; Rémy Dumoulin, + 33-1-40-55-29-30, remy.dumoulin@valeo.com

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