Valeo Announces Project to Sell Heavy Duty Truck Engine Cooling Business
Paris (ots/PRNewswire)
Valeo today announced a project to sell its heavy duty truck engine cooling division to the Swedish company EQT.
This division comprises three manufacturing sites - in Mjällby and Linkoping, Sweden and Jamestown, New York in the United States - and employs around 900 people. It supplies engine cooling modules and other powertrain cooling components to leading manufacturers of large trucks, buses, off-highway equipment and industrial diesel engines. The division generated sales of 176 million euros in 2007.
This project is in line with Valeo's strategy to divest non-core businesses, as the Group wishes to focus its engine cooling activity on passenger cars and light trucks.
The project is subject to consultation of the employee representative committees and approval by the antitrust authorities.
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 125 production sites, 62 R&D centers, 9 distribution platforms, and employs 61,200 people in 28 countries.
For further information, please contact:
Kate Philipps
Group Communications Director
Phone: +33-1-40-55-20-65
Rémy Dumoulin
Investor Relations Director
Phone: +33-1-40-55-29-30For more information about the Group and its activities, please visit our web site http://www.valeo.com
Contact:
For further information, please contact: Kate Philipps, Group
Communications Director, Phone: +33-1-40-55-20-65; Rémy Dumoulin,
Investor Relations Director, Phone: +33-1-40-55-29-30