- Valeo
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For other uses, see Valeo (disambiguation).
Valeo S.A. 
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.
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 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]
Organisation
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]
- Comfort and Driving Assistance Systems:
- Interior Controls (VIC);
- Security Systems (VSS);
- Powertrain Systems:
- Engine and Electrical Systems (VEES);
- Transmissions (VT);
- Thermal Systems:
- Climate Control (VCC);
- Engine Cooling (VEC);
- Compressors (VC);
- Visibility Systems:
- Wiper Systems (VWS);
- Lighting Systems (VLS)
Going abroad
- In 2005, Valeo launched a software services center in Egypt, under the name of VIAS (Valeo Interbranch Automotive Software) - now as Valeo Egypt. This center provides all software services for all Valeo branches, also 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.
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 customer 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-hybrid system.[6][citation needed] although several other suppliers are offering and delivering a comparable solution done with reinforced starters and alternators.
Key economic figures[7]
- Sales (millions)
- 2004: €9,229
- 2005: €9,933
- 2006: >€10,000
- 2007: €9,689
- 2008: €8,677
- 2009: €7,499
- 2010: €9,632
- Breakdown of sales by Business Group
- Thermal Systems: 30%
- Powertrain Systems: 26.7%
- Visibility Systems: 25.7%
- Comfort and Driving Assistance Systems: 17.6%
- Operating margin (in % of sales)
- 2007: 3.6%
- 2008: 2.6%
- 2009: 1.8%
- 2010: 6.4%
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]
References
- ^ a b c d e f "Annual Results 2010". Valeo. http://www.valeo.com/fileadmin/dotcom/uploads/Publications/2010%20CONSOLIDATED%20FINANCIAL%20with%20report_eng_On%20line.pdf. Retrieved 26 March 2011.
- ^ http://www.liberation.fr/societe/010160960-conde-sur-noireau-ravage-par-un-siecle-d-amiante
- ^ http://www.lexpress.fr/actualite/politique/amiante-le-medecin-du-travail-mis-en-examen_468056.html
- ^ http://www.mayenne.pref.gouv.fr/communiques-63-installation-de-la-commission-pour-la-mise-en-securite-du-site-de-rochefort-a-andouille.php
- ^ http://www.valeo.com/en/home/the-group/product-families.html
- ^ Micro-Hybrid Segment in Start Mode
- ^ http://www.valeo.com/en/home/investor-relations/key-figures.html
- ^ http://www.valeo.com/en/home/the-group/global-presence.html
External links
CAC Next 20 companies of FranceAir France-KLM · Arkema · Bureau Veritas · Casino Guichard · CGGVeritas · Dassault Systèmes · Edenred · Eurotunnel · Hermès · Gemalto · Klépierre · Lagardère · Legrand · Natixis · Scor · SES · Sodexo · Thales · Valeo · Wendel
Categories:- Companies listed on the Euronext exchanges
- Auto parts suppliers
- Manufacturing companies of France
- Comfort and Driving Assistance Systems:
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