Valeo is a French global automotive supplier headquartered in France, listed on the Paris Stock Exchange (CAC Next 20 Index). It supplies a wide range of products to automakers and the aftermarket. The Group employs 113,600 people in 29 countries worldwide.[1] It has 186 production plants, 66 R&D centers and 15 distribution platforms. In 2018, Valeo's sales rose 4% to €19.1 billion. It frequently ranks as France's leading patent filer.[2][3][4]
In February 2021, Valeo announced that it will invest $5 million to open a new assembly plant in Bessemer, Alabama which is expected to create 70 jobs.[10]
Strategyedit
Since 2009, CEO Jacques Aschenbroich's strategy has been based on: innovation linked to the reduction of CO2 emissions and intuitive driving, and geographical expansion in high-growth potential countries, notably in Asia and in emerging countries.[11][12][13]
From 2009 to 2018, the number of employees increased from 45,000 to 113,600. The Group’s sales rose from €7.5 billion to €19.1 billion.[14] with a strong development in China.[15]
Valeo invests 11,8% of its sales in R&D and innovation. It has 17,900 research and development employees. In 2016 and 2017, the Group ranked as France’s leading patent filer.[16]
Organizationedit
The Group employs 113,601 people in 33 countries throughout the world. It has 184 production plants, 55 R&D centers and 15 distribution platforms.[17]
Four Business Groupsedit
Valeo is structured around four business units:[18]
Comfort & Driving Assistance Systems (specialized in technologies to make driving safer, more intuitive, more autonomous and more connected)
Powertrain Systems (development of innovative solutions for reducing CO2 emissions in terms of electrification, automated transmissions and clean engines for vehicles)
Thermal Systems (optimization of vehicle thermal management and passenger well-being)
Visibility Systems (development of technologies ensuring the best visibility and safety for drivers in all weather conditions)
Its Valeo Service activity supplies original equipment spares to automakers and replacement parts to the independent aftermarket.[19]
International Businessedit
Original equipment sales growth by destination region:
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.[36][37]
Since, the Valeo Group has set up high health-security standards and has been thoroughly monitoring employees and retired personnel. This policy was ratified in a national agreement with the French government in April 2009. The group secured four former industrial sites with asbestos related issues.[38]