Valeo develops presence in Eastern Europe - multi-million euro orders awarded by Dacia

Paris, France, July 31 -- Valeo today announced that it has secured orders from Dacia for a wide range of systems and components specified on the new Solenza produced in Pitesti, Romania.

"We are very pleased to have been awarded these valuable new contracts by Dacia since they reinforce our strategy of developing business in the growing Eastern European market. Through the supply of a wide range of Valeo products and systems, our aim is to offer comprehensive support to Renault-Dacia's expansion in Romania. We wish this new venture every success," said Thierry Morin, Chairman & Chief Executive Officer, Valeo.

Renault acquired Dacia in 1999 and launched the Solenza model on the Romanian market earlier this year.

According to Dacia, up to 200,000 Solenzas will be produced until 2007 and the new orders placed with Valeo cover the supply of systems and components from six of the company's industrial Branches. The company will supply radiators, heating and air conditioning systems, top column module and switches, alternators, and hydraulic clutch systems from existing manufacturing facilities in Europe. Electrical wiring systems for the Solenza will be supplied from Valeo's new facility in Mioveni, Romania, opened in 2002.

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

Malene Pickles, +33 140 55 2074, Malene.pickles@valeo.com