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Valeo Announces a Project to Sell
its Electrical Motors & Actuators Activity
Valeo today announced that it has
signed a Memorandum of Understanding for the sale of its
Electrical Motors & Actuators activity to the Japanese group
Nidec.
The parties expect to be in a
position to sign the definitive agreements regarding this
project once the employee representative consultation process
has been completed.
Valeo's Electrical Motors and
Actuators activity generated sales of 253 million euros in 2005.
It employs 1,800 people in five plants (Germany, Spain, China,
Poland, Mexico) and four R&D centers (Germany, North America,
China).
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 and
employs 73,800 people in 133 plants, 71 R&D centers and 9
distribution centers in 29 countries.
(October
20, 2006)
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