Valeo Ends the Process of Examining the Indications of Interest From Investment Funds
Paris (ots/PRNewswire)
In line with the timetable given in its press release of 15 May 2007, Valeo (OTC: VLEEY) indicates that the process of examining the indications of interest received from investment funds has been completed without an acceptable offer being made within the defined timeframe.
In line with the wishes of its shareholders, as widely expressed during the Annual General Shareholders' Meeting of 21 May, Valeo will concentrate on its strategy of value creation. This strategy is based on innovation and the focusing of the product portfolio on the three Domains of Driving Assistance, Powertrain Efficiency and Comfort Enhancement through targeted divestitures and acquisitions.
Valeo has objectives for 2010 of a 6% operating margin and the doubling of its return on capital. Achievement of these objectives is dependent on more sustained organic growth from 2008, the reengineering of the Group's functions and the absorption of charges related to raw materials.
Valeo is an independent industrial group dedicated to the design, production and sale of components, integrated systems and modules for cars and trucks. It is one of the world's leading automotive suppliers. The Group has 131 production sites, 68 R&D centers, 9 distribution platforms, and employs 71,100 people in 29 countries worldwide.
For more information about the Group and its activities, please visit our web site www.valeo.com
For additional information, please contact:
Kate Philipps
Communications Director
Tel: +33-1-40-55-20-65
Rémy Dumoulin
Investor Relations
Tel: +33-1-40-55-29-30Contact:
For additional information, please contact: Kate Philipps,
Communications Director, Tel: +33-1-40-55-20-65; Rémy Dumoulin,
Investor Relations, Tel: +33-1-40-55-29-30