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Valeo
Type Public (Euronext Paris)
Founded 1923
Headquarters Paris, France
Industry Automotive
Products automotive components
Employees 51,200
Website http://www.valeo.com

Valeo is a French automotive components manufacturer.

Contents

History

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 1960’s by producing braking systems (1961), thermal systems (1962), electronical components (1963), and lightning systems (1970). In May 1980, the society 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 split in 11 branches, most of which were bought from foreign competitors. Recent acquisitions include the engine systems division of Johnson Controls in France, and a former Visteon plant in the USA.

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 [1] [2]

Organisation

As of 31 Dec 2008, Valeo manages 121 production sites, 61 Research & Development centres and 10 distribution platforms in 27 countries. In 2005, its sales were distributed as follows: 69% in Europe, 15% in North America, 12% in Asia, and 4% in South America.

The Valeo Group is split in 3 main domains and 11 product families:

  1. Driving Assistance:
    • Interior Controls (VIC);
    • Lighting Systems (VLS);
    • Wiper Systems (VWS);
  2. Powertrain Efficiency:
    • Engine Management Systems (VEMS);
    • Electrical Systems (VES);
    • Engine Cooling (VEC);
    • Compressors (VC);
    • Transmissions (VT);
  3. Comfort Enhancement:
    • Security Systems (VSS);
    • Climate Control (VCC);
    • Electronics & Connective Systems (VECS)

Going Abroad

  • In 2005, Valeo launched a software services center in Egypt (out-sourcing), under the name of VIAS (Valeo Interbranch Automotive Software). This center provides all software services for all Valeo branches,as well as it applies state of the art software development technology along with the needed validation and testing tools for other VALEO branches.

In addition, Valeo Service supplies aftermarket products to professionals.

Turnover repartition by product line
  • Electronics: 63 %
  • Thermal: 30 %
  • Transmissions: 7 %
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CEOs

  • Noël Goutard: 1987 - May 2000
  • André Navarri: May 2000 - February 2001
  • Thierry Morin: February 2001 - March 2009
  • Jacques Aschenbroich: Since March 2009

The 5 Axes

Valeo has designed the 5 Axes methodology, which is the backbone of the firm’s identity. Its aim is to satisfy the client by achieving zero quality incidents, whichever the product and wherever it is manufactured. The 5 Axes are:

  • Involvement of personnel;
  • Production system;
  • Supplier integration;
  • Constant innovation;
  • Total quality.

Competition

Main competition comes from Bosch, Delphi, Denso, TRW Automotive and Visteon.

Alternative propulsion

Valeo is a leader in the segment with its StARS micro-hyrbid system.[3][citation needed] although several other suppliers are offering and delivering a comparable solution done with reinforced starters and alternators.

Key economic figures[4]

Turnover (millions)
  • 2004: €9,229
  • 2005: €9,933
  • 2006: >€10,000
  • 2007: €9,689
  • 2008: €8,815
Operating margin
  • 2007: 3.6 %
  • 2008: 2.6 %

By the end of 2009, the Group Valeo is present in 27 countries, employs 52,200 people, at 120 sites, 40 research & development centres and 10 distribution platforms.[5]

References

  1. ^ http://www.liberation.fr/societe/010160960-conde-sur-noireau-ravage-par-un-siecle-d-amiante
  2. ^ http://www.lexpress.fr/actualite/politique/amiante-le-medecin-du-travail-mis-en-examen_468056.html
  3. ^ Micro-Hybrid Segment in Start Mode
  4. ^ http://www.valeo.com/en/home/investor-relations/key-figures.html
  5. ^ http://www.valeo.com/en/home/the-group/global-presence.html

External links



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