| Type | Société Anonyme (Euronext: FR) |
|---|---|
| Industry | Automotive industry |
| Founded | 1923 |
| Headquarters | Paris, France |
| Key people | Jacques Aschenbroich (CEO), Pascal Colombani (Chairman) |
| Products | Auto parts |
| Revenue | €9.632 billion (2010)[1] |
| Operating income | €590 million (2010)[1] |
| Profit | €365 million (2010)[1] |
| Total assets | €7.440 billion (end 2010)[1] |
| Total equity | €1.770 billion (end 2010)[1] |
| Employees | 57,930 (end 2010)[1] |
| Website | www.valeo.com |
Valeo is a French automotive components manufacturer.
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The Société Anonyme Française du Ferodo was founded in 1923 in Saint-Ouen, a suburb of Paris. It first distributed brake linings and clutch facings under license of Ferodo UK. The society engaged in a diversification in the 1960s by producing braking systems (1961), thermal systems (1962), and lighting systems (1970), and electrical systems (1978). In May 1980, the company was renamed Valeo, which means “I am well” in Latin.
Valeo then engaged in an aggressive strategy of expansion, through many international acquisitions. Today, Valeo is organised into four Business Groups. Recent acquisitions include the engine electronics division of Johnson Controls in France.
Valeo as a corporation, as well as its directors and its own corporate doctor, have been indicted after a 10-years-long penal procedure in 2006 for homicide, unintentional injury, and failure to assist a person in danger regarding a century-old scandal over asbestos where hundreds of employees have died. [2] [3]
The Valeo Group set up high health-security standards since then and has been thoroughly monitoring employees and retired personnel. This policy has been ratified in a national agreement with the French government in April 2009. [4]
As of 31 Dec 2009, Valeo manages 120 production sites, 61 Research & Development centres and 10 distribution platforms in 27 countries. In 2009, its sales were distributed as follows: 64% in Europe, 10% in North America, 18% in Asia, and 8% in South America.
The Valeo Group is organized into 4 Business Groups and 9 product families:[5]
In addition, Valeo Service supplies aftermarket products to professionals.
Valeo has designed the 5 Axes methodology, which is the backbone of the firm’s identity. Its aim is to satisfy the customer by achieving zero quality incidents, whichever the product and wherever it is manufactured. The 5 Axes are:
Main competition comes from Bosch, Delphi, Denso, TRW Automotive and Visteon.
Valeo is a leader in the segment with its StARS micro-hybrid system.[6] although several other suppliers are offering and delivering a comparable solution done with reinforced starters and alternators.
By the end of 2009, the Group Valeo is present in 27 countries, employs 52,200 people, at 120 sites, 61 research & development centres and 10 distribution platforms.[8]
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