Type Société Anonyme Industry Automotive industry Website www.valeo.com Founded 1923, Saint-Ouen, France | Traded as Euronext: FR Products Auto parts Headquarters Paris, France Parent organization Valeo | |
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Key people Jacques Aschenbroich (CEO), Pascal Colombani (Chairman) CEO Jacques Aschenbroich (20 Mar 2009–) | ||
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Valeo is a multinational automotive supplier based in France, providing a wide range of products to auto manufacturers and after-markets. It is a member of the CAC 40 share index.
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History
The Société Anonyme Française de 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.
The company's sales in China have doubled every four years, and the new plant opened in 2013 in Yangtze Delta Region, Nanjing, makes China the leading market for Valeo.
Organisation
At the starting of 2017, the Group Valeo has a presence in 33 countries, employing 91 800 people at 155 production sites, 20 research centers, 38 development centers and 15 distribution platforms.
The Valeo Group is organized into 4 business groups and 13 product families:
- Thermal Systems:
- Thermal Powertrain - TPT
- Thermal Front End - TFE
- Thermal Compressor - TCP
- Thermal Climate Control - TCC
- Visibility Systems:
- Lighting Systems - VLS
- Wipers Systems - VWS
- Powertrain Systems:
- Electrical Systems - PES
- Transmission Systems - PTR
- Electronics - PEL
- Combustion Engine - PCE
- Comfort and Driving Assistance Syst.
- Driving Assistance - CDV
- Interior Controls - CIC
- Connected Car - CCC
Cibié is Valeo's sports brand.
Financial statistics
Asbestos
Valeo, its directors and its corporate medical function have been indicted after a decade-long penal procedure in 2006 for homicide, unintentional injury, and failure to assist a person in danger regarding its former use of asbestos which caused the death of hundreds of employees over many years.
The Valeo Group has since set up high health-security standards 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.