Valeo Announces Project to Sell Speed Controller Activity
PARIS, March 19, 2010-- Valeo today announced a project to sell its Telma speed
controller activity, which manufactures electromagnetic retarders, to the
current management team.
The operation includes the activity's headquarters and main
plant based in Saint Ouen l'Aumône, France, a joint venture plant in China
and two distribution centers based in the U.K. and the U.S. The business
employs 195 people, of which 123 are based in France. It generated sales of
39.4 million euros in 2009.
This project is in line with Valeo's strategy to divest non
core businesses. The Telma speed controller activity was acquired with the
automotive assets of Labinal in 2001.
The project is subject to consultation of the employee
Valeo is an independent industrial Group fully focused on the
design, production and sale of components, integrated systems and modules for
the automotive industry, mainly for CO2 emissions reduction. Valeo ranks
among the world's top automotive suppliers. The Group has 120 plants, 21
Research centers, 40 Development centers, 10 distribution platforms and
employs 52,200 people in 27 countries worldwide.
For more information about the Valeo Group and its activities,
please visit our web site http://www.valeo.com.
For additional information, please contact: Kate Philipps, Valeo Group Communications Director, Tel.: +33-1-40-55-20-65; Thierry Lacorre, Valeo Group Investor Relations Director, Tel.: +33-1-40-20-39