PARIS, France -- Valeo has signed a Memorandum of Understanding to sell its Electrical Motors & Actuators activity to the Japanese group Nidec.
Valeo's Electrical Motors and Actuators activity generated sales of approximately $319 million in 2005. It employs 1,800 people in five plants in Germany, Spain, China, Poland and Mexico, and four R&D centers in Germany, North America and China.
Nidec said the acquisition will help the company further its recent focus on expanding its motor business as a core business strategy.
