Business Overview for FY2011

-In China, Valeo recorded original equipment sales growth of 17% on a like-for-like basis, reached 753 million euros. At the same time, Valeo recorded the production growth of 3% in China. (From the Company's  2011 annual report) 

Orders

In 2011, the Company received new orders for steering sensors particularly in the Chinese, American and European markets. Business related to interior electronics was driven by new orders placed by a Chinese automaker for a hands-free access and start system. A major order was also recorded in China for body controllers .(From the Company's  2011 annual report) 

Acquisition

-Valeo Group has signed an agreement with Wuhu Chery Technology Co., Ltd., which is a wholly owned subsidiary of Chery Automobile Co., Ltd., to create a joint-venture company to manufacture automotive lighting systems in China. Wuhu Chery will sell its 80 percent holdings in Wuhu Ruby Automotive Lighting Systems, Ltd. to Valeo to form a new company, Wuhu Valeo Automobile Lighting Systems Co., Ltd. Wuhu Valeo Automobile Lighting will engage in developing, manufacturing and selling Valeo lighting products, mainly targeting Chery and other automakers in China. (From a press release, November 21, 2011)

-Valeo S.A. announces the closing of the acquisition of Niles from RHJ International SA and Nissan. The company will join the Comfort and Driving Assistance Business Group (internal controls, internal electronics and access mechanisms), as of July 1, 2011. Niles generated sales of 412 million euros (47 billion yen) in 2010, employs 3,900 people at eight production sites, including two production sites in China. (From a press release on June 30, 2011)

Strategic partnership with Great Wall Motor

-On July 15, 2011, Valeo signed a agreement on a strategic partnership with Great Wall Motor. The two companies, which have already been cooperating in such areas as wipers, alternators, starters and clutches, will now expand their collaboration to other areas, including powertrain systems, visibility systems, thermal systems and drive assist systems. They have also agreed that the executives of respective companies will visit each other on a regular basis for sharing information and strengthening their relationships. (From news releases issued by multiple sources on July 19, 2011)

New plants

-Valeo S.A. announced that it has inaugurated two new sites in China: an Electronics Expertise Center in Shenzhen,Guangdong province and a wiper systems production plant in Wenling, Zhejiang province, China. The new ElectronicsExpertise Center, located within Valeo's Shenzhen production plant, will develop electronic components for electric vehicles. The new Wenling production plant of 15,600 square meters will replace the former plant. (From a press release on April 1, 2011)

-A significant increase in orders has buoyed the steady growth of this Business Group’s results. Firm orders have taken off, showing that the market for Valeo’s visibility systems is strong over the long term. Valeo will soon open new operations, particularly in northern China, to support and expand the activities of the Wuhan site in central China, the Foshan site in the south and the Wuhu site in the eastern part of the country. By covering the key regions for automotive production in China, Valeo will be able to efficiently serve the automakers that operate in these regions. (From the Company's  2011 annual report) 

R&D activities
-The Valeo Engineering Hardware China in Shenzhen, which employs about 100 engineers and plans to recruit an additional 200 by end-2015, has reinforced the Group’s position in China. Valeo's continuous investment of over 5% of its annual sales in Research and Development has enabled the Company to bring to market the innovations that will support the Group's development in China in the coming years.(From the Company's  2011 annual report)

-The Group experienced two more successes with innovations aimed at emerging markets: a new generation of ultra light steering locks that is 40% lighter without compromising on the tamper-resistance of the locks, and an electric steering column lock for a Chinese automaker, based on the new standard for emerging markets. Valeo has expanded its worldwide coverage of the Optimum latch in Chinal with contract s with new automakers.(From the Company's  2011 annual report)

R&D facilities