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• Chevrolet Introduces The "Cruze" Compact Lifestyle Vehicle at the Tokyo Motor Show 2001, Jointly Developed By GM, Suzuki
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• GM, Ford And DaimlerChrysler Go After Parts Counterfeiters
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• Valeo announces a plan to close its Baumenheim plant in Germany
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News of  October 24, 2001
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Valeo announces a plan to close its Baumenheim plant in Germany

Paris - The Switches & Detection Systems Branch of Valeo plans to rationalize its production in Germany, leading to the closure of its Baumenheim, Bavaria, plant. This closure is part of the production site restructuring program announced at Valeo's Annual General Meeting of Shareholders on May 9^th 2001. The Baumenheim plant, which employs 470 people, produces park assist systems and top column modules.

Accompanied by a major investment project (23 million euro), production will be transferred to the existing Wemding site (Bavaria), 30 km from Baumenheim. Part of Wemding's current production will be transferred to the Branch's Veszprem site in Hungary.

An offer to redeploy to the Wemding site will be made to all personnel involved. The Works Council is currently being informed and consulted on this project.

This rationalization will allow the Switches & Detection Systems Branch to improve its competitiveness and sustain its strong growth in the development of new products. The Branch has sales of 815 million euro and employs 6,500 people in eight countries.

(October 15, 2001)

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