PARIS, Nov. 16 /Xinhua-PRNewswire/ -- Valeo today announced the signature
of a contract for the sale of its Electric Motors & Actuators activity to the
Japanese group Nidec for an enterprise value of 165 million euros. In 2005
this activity generated total sales of 253 million euros and an operating
income of 9 million euros. The transaction should be closed by December 31,
2006.
The sale of the Electric Motors & Actuators activity is in line with
Valeo’s strategy to focus its offer on solutions in the Domains of Driving
Assistance, Powertrain Efficiency and Comfort Enhancement.
This sale will allow the activity to develop as a key part of the growth
strategy of Nidec, a leading global industrial company specialized in high
range electric motors. Nidec has sales of over 4 billion euros with 19
manufacturing sites primarily in Asia.
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.
