Valeo Sells its French Plastics Injection Facility in Saint Aubin

PARIS, July 22 -- Valeo today announced the sale of its Saint Aubin d'Arquenay, France, site to IMTEC, one of the Group's VIP (Valeo Integrated Partners) suppliers. This sale was carried out in the context of Valeo's program of disengagement from plastic injection activities, announced to the European Works Council on January 18, 2002. The sale is expected to be completed on October 1, 2003, and the jobs of the 46 employees from the site will be secured.

IMTEC has sales of 75 million euros and employs 620 people, and is specialized in injection molding, stamping and overmolding (35 percent of sales). The company is global with presence in China, Czech Republic, France, Mexico, and has particular skills in engineering as well as highly automated technical parts manufacturing.

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, 9 distribution centers and employs 69,000 people in 25 countries worldwide.