Valeo secures first multi-million euro contract for new Mechanical Multi-Exchanger

Paris, France, July 11 -- Valeo today announced that it had secured the first contract for its new Mechanical Multi-Exchanger. The first model to be equipped with the new unit is the Renault Clio (1.2 and 1.6 liter petrol engine), introduced this year. The contract, valued at over 10 million euros over the model lifetime represents a significant commercial success for Valeo.

Car makers adopting Valeo's new high performance Mechanical Multi-Exchanger will benefit from significant cost and weight savings, achieved through a simplified manufacturing process that requires fewer components. In addition, space savings of 20 per cent in the thickness of the installed unit will provide opportunities for greater design flexibility in the front vehicle zone where space is at a premium.

The new Valeo Mechanical Multi-Exchanger is a world first for the automotive market. Patented worldwide, the unit integrates two functions by mechanical assembly. An engine cooling radiator and an air conditioning condenser are combined by a unique design of the mechanical core, using a single aluminum fin throughout.

Thierry Morin, Chairman & Chief Executive Officer, Valeo, said, "Valeo's technical expertise in thermal systems and knowledge of mechanical assembly processes has enabled us to achieve this industry first. The new Mechanical Multi-Exchanger represents a significant design and manufacturing achievement, the competitive benefits of which will be appreciated by customers worldwide."

Currently, all multi-exchangers available to the automotive market either adopt conventional brazed construction to integrate the engine cooling radiator and air- conditioning condenser into one unit, typically for diesel engines or, alternatively, comprise two separate exchangers that are attached to form one module.

By contrast, Valeo has adopted an entirely new design approach. The new Valeo component is the first all-in-one Multi-Exchanger that is mechanically-assembled using a single aluminum fin throughout. The tubes of the condenser are brazed by electro-magnetic induction to the condenser headers. Valeo engineers have adopted this novel technique to eliminate the expensive and heavier brazed construction process that requires a controlled atmosphere.

The ease of mechanical assembly, coupled with a much more simplified brazing process, provides car makers with the potential to achieve substantial cost savings whilst maintaining the same thermal performance.

The Mechanical Multi-Exchanger will be produced in France, by the Valeo Engine Cooling facility of Laval. The plant currently employs over 600 people and specializes in mechanical assembly and plastic injection forming processes. Radiators, heater cores, charge air coolers, fan systems and cooling modules are produced for the vehicle manufacturers worldwide.

Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks. Valeo ranks among the world's top automotive suppliers. The Group has 130 plants, 54 R&D centers, nine distribution centers and employs 69,000 people in 25 countries worldwide.

Malene Pickles Tel: +33 140 55 2074 Email: Malene.pickles@valeo.com