Tous Actualités
Suivre
Abonner Valeo Management Services

Valeo Management Services

Valeo Negotiates the Sale of its Wiring Harness Activity to Leoni

Paris (ots/PRNewswire)

Valeo (OTC: VlEEY)today announced that it
is in negotiation with Leoni regarding the possible sale of its
wiring harness activity, Valeo Connective Systems, which generated
sales of 545 million euros and an EBITDA of 36 million euros in 2006.
It employed 11,700 people at 12 industrial sites, including 9 in
cost-competitive countries at 30 June 2007.
Subject to consultation of the employee representative committees
and approval by the antitrust authorities, the negotiation could be
completed by year end.
The divestiture of the wiring harness activity is in line with
Valeo's strategy, announced at the Annual General Meeting of
Shareholders, to focus its product offer on solutions in the Domains
of Driving Assistance, Powertrain Efficiency and Comfort Enhancement,
backed by its strong competitive position and diversified customer
base. This sale is a step in the plan to divest activities amounting
to around 2 billion euros of sales by the end of 2008.
Leoni is a world leader in the wiring business for different
industries, and the acquisition of Valeo Connective Systems would
make it European leader for automotive wiring with a broad customer
base.
Valeo is an independent industrial group dedicated to the design,
production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive
suppliers. The Group has 133 production sites, 67 R&D centers, 9
distribution platforms, and employs 72,300 people in 29 countries.
For more information about the Group and its activities,
please visit our web site http://www.valeo.com
For all additional information, please contact:
    Kate Philipps
    Group Communications Director
    Tel: +33-1-40-55-20-65
    Rémy Dumoulin
    Investor Relations
    Tel: +33-1-40-55-29-30

Contact:

For all additional information, please contact: Kate Philipps, Group
Communications Director, Tel: +33-1-40-55-20-65; Rémy Dumoulin,
Investor Relations, Tel: +33-1-40-55-29-30

Plus de actualités: Valeo Management Services
Plus de actualités: Valeo Management Services
  • 27.07.2007 – 09:18

    Valeo Acquires Connaught Electronics to Reinforce its Driving Assistance Domain

    Paris (ots/PRNewswire) - Valeo announced today that it has completed the acquisition of Connaught Electronics Ltd. (CEL), an Irish producer of vehicle electronics. This acquisition strengthens Valeo's Driving Assistance Domain through the extension of its line of camera-based vision solutions for low-speed maneuvering. Headquartered in Tuam near Galway in ...

  • 26.07.2007 – 20:56

    Valeo - First Half 2007 Results

    Paris (ots/PRNewswire) - The Board of Directors, which met today, approved the summarized consolidated accounts for the first half 2007. In millions of euros(X) 1st half Quarterly variation 2007 2007 2006 Change 2nd quarter 1st quarter Total operating revenues 5,286 5,309 -0.4% 2,646 2,640 Gross margin 810 835 -3.0% 414 396 % of ...