Paris (ots/PRNewswire) - Valeo today announced that it has signed
an agreement for the acquisition of the Engine Electronics business
of Johnson Controls, Inc. for an enterprise value of 330 million
euros, financed through Valeo's cash resources.
This business designs, produces and sells engine management
systems, engine control units & electric motor drives and engine
components, including injectors, ignition and emission control
components and sensors. It employs around 2,000 people in France with
a head office and R&D center in Pontoise and plants in Sablé and
Sainte Florine. In its September 2004 fiscal year it generated
revenues of 426 million euros.
"JCEED's expertise in engineering, engine control and power
electronics represents a perfect complement for Valeo's activities
and reinforces our electronics expertise. This is an important step
in our technology strategy and will drive strong growth," said Valeo
Chairman & CEO Thierry Morin.
These activities will complement several of Valeo's existing
businesses, in particular Valeo's Powertrain Efficency Domain within
which Valeo develops systems for cleaner, more efficient and more
economical vehicles. The Domain will benefit from JCEED's expertise
in the areas of electronic management of engine cooling, power
electronics for starter-alternators (StARS), electrical actuators for
clutches and automated manual transmissions and exhaust gas
recirculation (EGR) systems. Valeo's Driving Assistance Domain, which
provides systems for improved security, will also take advantage of
this know-how in electronic control units, for example in reversible
wiper systems and advanced front lighting systems.
The transaction is subject to regulatory approvals and will be
completed in the first quarter of 2005.
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 platforms and employs 70,200 people in 26 countries
ots Originaltext: Valeo
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