Video Interview: Valeo Chairman and CEO Thierry Morin Comments on 2007 Results
Valeo, one of the world’s leading automobile suppliers, has reported a profit for the full-year 2007. In a recent video interview, Thierry Morin, chairman and CEO of Valeo, comments on the company’s earnings, strategy and outlook. During the interview, Morin addresses Valeo’s 2007 performance, and discusses the sustainability of current trends, the company’s acquisition strategy and more.
Leoni Buy of Valeo CSB Cleared by EU
From AFX News Limited BRUSSELS — The European Commission says it has approved Leoni AG unit Bordnetz-Systeme GmbH’s proposed $324 million acquisition of Valeo SA’s automotive wiring harness business Valeo CSB. The combined market share of the parties in the electrical distribution systems (EDS) and electronic electrical distribution systems (EEDS) market would still be moderate
2007 Valeo Wiper Blades Application Catalog
TROY, MI – Valeo has published its 2007 Wiper Blades application catalog for domestic and import cars, light trucks, SUVs and vans (P/N VWS-CAT-0107). The catalog features Valeo’s entire line of wiper blades – Valeo ULTIMATE flat blades (“Direct OE Fit” & “Universal Fit”), SWF, 700 Series ORIGINAL and 600-Series Premium. The 110-page catalog includes
Valeo Announces Joint Venture in India
Valeo has announced a joint venture for the production of alternators and starter motors with N.K. Minda Group, a manufacturer of automotive systems in India. The new company, called Valeo Minda Electrical Systems India Private Limited, will be 66.7 percent owned by Valeo and 33.3 percent owned by Minda.
Valeo, Tata Group in Talks for Stake in Visteon
From AFX News Limited MUMBAI — French auto parts maker Valeo and India’s Tata Group are said to be in early talks to acquire a stake in New York-listed Visteon Corp, the Business Standard reported, citing sources close to the deal. Company officials declined to comment on market speculation, the paper said. A stake in
Valeo May Attract Bid from U.S. Investment Fund
From AFX News Limited PARIS — U.S. investment fund Apollo may launch a bid for French car parts maker Valeo, Les Echos reported without naming its sources. The fund would be backed by investment banks Lazard and Merrill Lynch, according to the business daily, which added that the Valeo board was scheduled to meet Thursday.
France’s Valeo Sees Opportunities in U.S. Auto Parts Market as Incumbents Falter
Valeo’s chief executive Thierry Morin said that the financial problems of American firms such as Visteon Corp. and Delphi Corp. have created new opportunities for the France-based automotive supplier. Morin said that business is moving away from Visteon and Delphi as manufacturers look for more stable partners.
Ford to Sell Former Visteon Plant to Valeo
Ford Motor Co. announced Monday it has reached an agreement with French auto supplier Valeo SA to purchase the climate control business and Sheldon Road plant in Plymouth Township now owned by Automotive Components Holdings LLC, a subsidiary designed to dispose of more than a dozen former Visteon Corp. facilities. The sale is conditional upon reaching a new and competitive labor agreement with the United Auto Workers union.
Valeo to Sell its Electrical Motors & Actuators Operations
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.
Valeo Creates a Joint Venture in Korea for Engine Cooling Systems
Valeo has signed an agreement to acquire 50 percent of Threestar, the largest automotive radiator manufacturer in Korea. The new entity, in which the Samsung Climate Control Group holds the other 50 percent, will be called Valeo Samsung Thermal Systems.